Several types of proteins are used in athletes’ supplementation; nevertheless, given the problem of protein deficiency in the world and the growing need for ecological sources of protein, it is very interesting to study the quality of alternative protein sources, such as insect protein. This study investigated the nutritional value, micronutrient content, amino acid profile, and chemical score of banded cricket protein quality in the form of flour, defatted flour, and a protein preparation, as well as popular commercial protein supplements. In addition, in vitro digestion was performed, and the antiradical activity of the hydrolysates was compared. Generally, the defatted cricket flour was the most similar to commercial supplements regarding nutritional value because it contained 73.68% protein. Furthermore, the defatted flour was abundant in essential minerals, such as iron (4.59 mg/100 g d.w.), zinc (19.01 mg/100 g d.w.), and magnesium (89.74 mg/100 g d.w.). However, the protein preparation had an amino acid profile more similar to that of commercial supplements (total content of 694 mg/g protein). The highest antiradical activity against ABTS·+ was noted for the defatted flour (0.901 mM TE/100 g) and against DPPH· for the cricket flour (2.179 mM TE/100 g). Therefore, cricket can be considered an organic protein source for the production of valuable protein supplements.