A process for the producing edible protein-containing meal for human and animal consumption and high quality food grade oils from oil seed using iodotrifluoromathane as the solvent is shown. The meal has a significantly improved level of dietary available (absorbable) protein. The process involves the preparation of protein isolates by a procedure which is conducted at room temperature, thus decreases protein degradation and denaturing which is caused by elevated temperatures. The process also provides for extraction of substantially all oils and fats, which interfere with the formation of the protein micelle, from the protein meal providing a cleaner, purer product with high levels of absorbable protein. Such protein isolates can then be used as such or added to formulated foods in order to increase the total protein content of that food. The protein produced and the oils recovered have compositions which are also unique and unobtainable by prior processing methods.