Iron is known as an essential nutrient in the human body. Insufficient iron uptake is easy to result in iron deficiency anemia, which is a public health problem in both developing and developed countries. Iron, complexed by iron-chelating peptides, have been proposed as a superior candidate to ionized iron for improving iron absorption and bioavailability. Nowadays, as more and more iron-chelating peptides are identified from different food sources, the iron-peptide binding mode attracts much attention. Meanwhile, many studies have been conducted on the iron-chelating peptides to make clear their iron bioavailability enhancement potential. The aim of this review is to provide an overview of research progress in food protein-derived iron-chelating peptides. The review would be of particular value for iron-peptide complexes as functional ingredients or iron supplements.