Two types of protein isolates have been obtained from defatted Lupinus mutabilis meal. Both, isolate-Α and -B, were obtained by alkaline extraction with 0.2% NaOH, and 0.25% bisulfite, followed by precipitation at the isoelectric point (pH = 4.8). Total lipids were extracted with 86% ethanol, and neutral lipids were separated using a Florisil column. The lipids found in the isolates were similar to those found in the original meal, and the following types of compounds were separated, identified, and measured: hydrocarbons, waxes, methylesters, triglycerides, free fatty acids, diglycerides, and free sterols.