The present invention pertains to the field of nutrition and in particular a food product formulation based on protein and other nutrients extracted from oil seeds, such as hemp, for a plurality of uses, including, but not limited to an infant or toddler formula, a beverage, baked goods or a protein supplement. Suitable oil seeds include, but are not limited to hemp, flax, chia, pea and spirulina. Accordingly, the present invention provides a food product formulation for human consumption that can provide a complete source of dietary protein and other nutrients through oil seed protein. The formulation may be prepared in a variety of product forms, including but not limited to, a ready-to-serve liquid form, or a powder form that can be reconstituted prior to human consumption into liquid form, or a powder form that can be added to oilier ingredients to produce a baked product for human consumption, or a protein supplement.