A functional fermented plant-based product was developed by using raw and roasted pistachio kernels. The product was prepared from aqueous pistachio slurries by heating and fermenting with a lactic culture. Antioxidant, ACE-inhibitory and α-amylase inhibitory activities along with soluble protein and phenolic contents of the products were measured during storage. Raw pistachios exhibited significant antioxidant and ACE-inhibitory activity along with a low level of α-amylase inhibitory activity which were further enhanced by fermentation with the lactic culture. On the other hand, roasting pretreatment resulted in lower soluble protein content, antioxidant activity, phenolic content and consequently lower bioactivity in the end product. Plant-based pistachio products can be manufactured from raw pistachios in order to obtain high antioxidant and ACE-inhibitory activities.