In the last few years, the consumer’s concern with the relationship between health and diet has led to the search of foods with functional properties beyond the nutritional. In this framework, the consumption of pomegranate has increased due to their sensorial attributes and remarkable amounts of bioactive compounds, which generate, at the same time, huge amounts of by-products. A search in the Scopus database for the last 10 years has revealed the rising interest in pomegranate peel (PP), the main residue from this fruit. The meat industry is a food sector that has had to search for new alternatives to substitute the use of synthetic preservatives by new natural additives, to extend the self-life and keep the quality attributes of their processed products. This review sets out the main bioactivities of PP extracts, and their incorporation in meat products is elaborated. PP is a good source of bioactive compounds, including phenolic acids, flavonoids and hydrolyzable tannins, which have beneficial health effects. It can be concluded that the reformulation of meat products with PP extracts is a suitable strategy for enhancing their technological characteristics, in addition to conferring functional properties that make them healthier and potentially more acceptable for the consumer.