Hippocampus abdominalis is one of the commercially cultured seahorse species in the world and is characterized by high fecundity, strong disease resistance, and tolerance to low temperatures. In recent years, the aquaculture of H. abdominalis has rapidly emerged in China, attracting considerable attention to its resource development. To promote the rational development of H. abdominalis and expand its application scenarios, this paper reviews its edible history in China and abroad. For example, it has been included in the food category in South Korea and the Philippines. In addition, its nutritional components, such as proteins and polypeptides, are discussed, revealing that it has a balanced nutritional composition consistent with contemporary healthy consumption concepts. The edible safety of H. abdominalis is also analyzed from the perspectives of heavy metal and microplastic contents. Finally, the future development directions of H. abdominalis are discussed in terms of market prospects, product development, and policy guidance.