In this study, antioxidant activities of water-soluble protein extracts from chickpeas and white beans were investigated. The area under the curve (AUC) values of lyophilized crude protein extracts (dialyzed or undialyzed) from thermally processed (121 °C for 20 min) or heat-treated (90 °C for 20 min) chickpeas (73–91 μmol trolox/g) and white beans (39–67 μmol trolox/g) indicated a higher free radical-scavenging capacity and thermostability for chickpea proteins than for white bean proteins. The thermal processing also increased the Fe+2-chelating capacity of lyophilized chickpea crude protein extracts 1.8-fold whereas it caused a 2.3-fold reduction in the Fe+2-chelating capacity of lyophilized white bean crude protein extracts. Dialysis increased the protein content of lyophilized chickpea extracts 1.5–2-fold but it did not affect the protein content of lyophilized white bean extracts significantly. Ammonium sulfate precipitation was not effective for selective precipitation of antioxidant proteins. However, it improved the free radical-scavenging capacity of lyophilized protein extracts from thermally processed chickpeas and white beans by almost 25% and 100%, respectively. DEAE-cellulose chromatography, indicated the presence of five (A1–A5) and three (B1–B3) antioxidant protein fractions in heat-treated and thermally processed chickpea protein extracts, respectively, and can be used for the partial purification of antioxidant proteins. The results of this study showed the good potential of chickpea proteins as thermostable natural food antioxidants.