The present invention provides a method for processing defatted oil seeds, comprising the steps of: (a) solubilizing at least a portion of the protein contained in the oil seeds to produce suspended residual solids and a first solution comprising protein, phenolic-protein complexes, and free phenolic compounds; (b) treating at least a portion of the phenolic-protein complexes in the first solution to liberate at least some phenolic compounds from the phenolic-protein complexes thereby producing a second solution; (c) separating at least a portion of the free phenolic compounds from the second solution and recovering a free phenolic reduced solution; and (d) treating the free phenolic reduced solution to precipitate at least a portion of the protein as a precipitated protein isolate and recovering a treated solution containing a soluble protein isolate. Novel protein products are also disclosed. Food and drink products containing the novel protein products are also disclosed.