In some countries, use of horsemeat as a food is inhibited by ethical and cultural concerns. However, horsemeat has potential health benefits, such as low fat and high unsaturated fatty acid content compared with other meats, as well as attractive sensory properties. Although there are many contradictory data on the dietary value in relation to human health, the effects of horsemeat have not been studied to a large extent. In this paper, we summarise existing knowledge on horsemeat quality and effects on human health. Our conclusion is that horsemeat may be consumed as a healthy alternative to other types of meat, provided that risks associated with microbial contamination during storage and possible presence of contaminants in horsemeat are taken into consideration. Future studies should evaluate the health-promoting properties and safety of horsemeat and associated byproducts.