In recent years, the extraction of bioresources from biowaste via green chemistry and their utilization for the production of materials has gained global momentum due to growing awareness of the concepts of sustainability. Herein, we report a benign process using an ionic liquid (IL), 1-butyl-3-methylimidazolium chloride ([BMIM]Cl), for the simultaneous extraction of keratin and melanin from human hair. Chemical characterization, secondary structure studies, and thermal analysis of the regenerated protein were performed thoroughly. Hemolytic potential assays demonstrated hemocompatibility of the keratin, and thus, it can be used in blood-contacting biomaterials such as sealants, catheters, hemostats, tissue engineering scaffolds, and so on. Scanning electron microscopy showed retention of the ellipsoidal morphology of melanin after the extraction procedure. The pigment demonstrated the ability to reduce 2,2-diphenyl-1-picrylhydrazyl indicative of its free-radical scavenging activity. Notably, the IL could be recovered and recycled from the dialysis remains which also exhibited conductivity and can be potentially used for bioelectronics. Altogether, this work investigates an extraction process of biopolymers using green chemistry from abundantly available biowaste for the production of biomaterials and does not produce any noxious waste matter.