Abstract: Elastin, the primary structural component of elastic fibers, serves as a vital protein that imparts elasticity and tensile resilience to skin and other connective tissues. Elastin peptides, resulting from the enzymatic hydrolysis of elastin, possess numerous physiological activities that significantly contribute to skin aging mitigation and repair. In this review article, the structure, various sources, preparation, and biological activity of elastin peptides derived from food-based materials are comprehensively examined. Furthermore, the intricate mechanisms by which elastin peptides exert their anti-aging effects on skin are explored in this study, drawing upon the latest findings from in vivo animal, and clinical studies. Currently, elastin peptides have found widespread applications in functional foods, cosmetic skincare products, and other related industries. However, there remains a need for further research in areas such as source exploration, process optimization, efficacy evaluation, mechanistic insights, and large-scale clinical trials. With the continued advancement of research and production technologies, elastin peptides with potent anti-skin aging properties are anticipated to expand their horizons in food nutrition, health and beauty, medical aesthetics, dermatological treatments, and beyond, offering promising prospects for broader applications.