In the last decades waste generation and management is one of the main concerns of the canned food industry. The waste generated in the food sector is generally rich in water and organic compounds and therefore these by-products can cause environmental problems. The manufacturers face additional costs for the adequate disposal or treatment of their residues. However, food waste could be a potential raw material for the extraction of valuable products. It is cheap and produced in large quantities as by-products. In this aspect, more comprehensive studies related to valorisation of waste could lead to economic and environmental benefits. The processes of manufacturing of canned vegetables, juices, tomato paste, oil, wines, etc., generate large amounts of solid wastes as marc, seeds, epidermis, and stems that contain valuable components. These wastes are a source of high value-added products and can be processed with the aim to extract various biologically active compounds that can be used as food components or pharmaceutical preparations. Tomato and pepper seeds contain biologically active compounds that refer to the group of steroidal glycosides. In was found out that these glycosides exhibit antimicrobial, antioxidant, anticancer, and fungicidal properties. Tomatoside – steroidal glycoside extracted from seeds of tomato Lycopersicon esculentum Mill. – exhibits antiviral properties and is more effective than interferon. Capsicoside extracted from seeds of pepper Capsicum annuum L. and tomatoside extracted from tomato seeds can be used as growth stimulators of agricultural crops. Biologically active compounds from pepper seeds (capsicosides) prevent accumulation of lipids in adipocytes and can be promising for application as an effective remedy for prevention and treatment of obesity. We have accomplished comprehensive studies of the influence of ultrasonic treatment on the processes of extraction of biologically active compounds from canned industry wastes – tomatoside from tomato seeds and capsicoside from pepper seeds. It was shown that application of ultrasonic cavitation treatment during extraction reduces the duration of the extraction process of biologically active compounds by a factor of 9 and the temperature of the process to 35-55 oC. The action of ultrasound considerably accelerates the swelling of the seeds’ walls and induces the cell destruction. This leads to an intensive release of biologically active compounds and their diffusion into the solvent, in our case 70% ethanol was used. Ultrasound assisted technique for extraction of biologically active compounds from tomato seeds accelerate the process and allows one to increase the yield of the end product by a factor of 1.5. During of the extraction of biologically active compounds from tomato and pepper seeds using ultrasonic cavitation treatment at a temperature of 55 oC the changes of the chemical composition of the extracted substances was not registered.