This study was undertaken to determine the effects of chickpea albumin hydrolysate (CAH) on antihyperlipidemic and antitumor functions. The antihyperlipidemic results showed that CAH exhibited a dose dependent ability to decrease the levels of serum total cholesterol, triglyceride, LDL cholesterol (LDL-C), while increasing HDL cholesterol (HDL-C). Additionally, the appearance of the hyperlipidemic livers was ameliorated significantly. The antitumor results showed that CAH administration significantly increased the tumor inhibition rate and decreased tumor volume. CAH was also able to increase the spleen index and promote spleen lymphocyte proliferation. In addition, CAH treatment led to a remarkable rise in the superoxide dismutase (SOD) activity, while dramatically decreasing malondialdehyde (MDA) in the liver. Most importantly, we found that the physical conditions, such as appetite, activity, and coat luster of the mice in the CAH test group were better than those in the tumor control (TC) and positive control (PC) groups. These results taken together indicate that CAH warrants being further investigated and developed as an adjunctive element for hepatic lipid control, as well as antitumor and hypolipidemic therapies.