Recently, pectin, a versatile polysaccharide with different industrial applications, has gained significant attention as an eco-friendly and functional ingredient. This study investigates pumpkin peels ( L., Mantua variety) as a novel source of pectin, using a microwave-assisted extraction method with citric acid-acidified water as solvent. The extraction conditions were optimized using a Design of Experiments approach, considering the solvent-to-solid ratio (SSR), pH, temperature, and extraction time. The optimized conditions (94.8 °C, 5 min, pH 1.5, and 46 mL/g SSR) resulted in a pectin yield of 18.05%. A comprehensive characterization of the extracted pectin was performed, including FT-IR spectroscopy, DSC, TGA, rheological properties, and techno-functional assessments such as water holding capacity and fat binding capacity. The results indicated a high degree of esterification (56.19 ± 0.87%), classifying the pumpkin peels (PP) extract as a high methoxyl pectin. PP pectin demonstrated potential as a stabilizer and emulsifying agent, although its high methoxyl content limits its use as a carrier for targeted bioactive delivery. The findings support the viability of using agricultural by-products to obtain valuable polysaccharides, contributing to waste valorization and sustainable industrial practices.