Fish protein hydrolysates (FPH), a fish product produced from Fish and shellfish meat as well as processing waste including skin, scale, bone, visceral mass, gills, shrimp head waste, cuttlefish visceral waste, squid processing waste, surimi wash water etc. FPH can be sold in three different forms as dried powder, liquid and paste depending upon the intended use. FPH is rich in low molecular weight bioactive peptides soluble in water at wide range of pH and has antioxidant, anti-hypertension, anti-ageing and immune-modulatory effects. In addition, the fish protein hydrolysates serve as rich source of protein (>80 %) and traces of minerals. FPH has high market potential as supplementary food and feed ingredient.