•Pomegranate residues contain bioactive compounds with health benefits.•Punicic acid is the principal compound in pomegranate seeds.•Punicalagin is the main ellagitannin in pomegranate peel•The compounds from pomegranate can be use in nutraceutical applications. Pomegranate (Punica granatum L.) is a fruit native to South Asia, and currently can grown in tropical and subtropical areas, including Mexico, which produces approximately seven thousand metric tons per year. Pomegranate stands out for its rich flavor and functional properties, which is why it has gained acceptance in different countries in the marketing of assorted products such as jellies, jams, drinks, and its effectiveness against diseases and pathogenic microorganisms. This review summarizes information about the bioactive compounds of pomegranate and its nutritional properties as functional food, with emphasis on its by-products (aril, seed, and peel). Punica granatum contains bioactive compounds, the peel has a higher content of these compounds and in vitro biological properties reported by different authors. Pomegranate and its by-products have functional properties, such as antimicrobial, anticancer, and antiviral, even against SARS COV-2 virus in vitro studies; activities attributed to punicalagin, punicalin, ellagic acid, punicic acid, and anthocyanins. It is important to further analyze this fruit's functional and nutritional effects, especially the peel. To study the mechanisms involved, to develop industrial processes for the development of a nutraceutical or functional food product.