The aim of the study was to develop a suitable recipe for wheat-corn snack pellets fortified with insect flour addition and to evaluate the relevant processing aspects and physical characteristics of the developed products. Varying levels of edible insect flour (10, 20, and 30%) were incorporated into a new type of fortified snack pellet as a half product for further expansion. The effects of the edible insect flour level, as well as processing variables (moisture levels 32, 34, 36% and screw speeds 60, 80, 100 rpm), were analyzed on the extrusion stability and on selected snack pellets’ physical properties processed via single-screw extrusion cooking. This research indicated that an increasing amount of edible insect flour significantly affected the processing output and energy consumption. The incorporation of insect flour in blends significantly increased the specific mechanical energy and efficiency of pellet extrusion, especially at a high moisture level and high screw speed during processing. Moreover, the addition of insect flour in the snack pellets significantly reduced the bulk density and pellet durability. Principal component analysis confirmed that approximately 76.5% of the data variance was explained by the first two principal components, and significant correlations were noted between the properties of the tested snack pellets. It can be concluded that up to 20% of insect flour in newly developed extruded snack pellet formulations has no negative effect on processing and physical properties.