The solubility, foaming, emulsification, hygroscopic, moisture and stable performance of grass carp peptides were researched in this study. The amino acid content and composition proportion of grass carp peptides were also determined and the nutrition value of grass carp peptides was evaluated. The results showed that the grass carp peptides had good function properties. Grass carp peptide had 18 kinds of amino acids and the content of amino acids was 90.94%. The content of essential amino acids was 41.33%. The biological value, essential amino acid index, nutritional index and amino acid ratio coefficient of grass carp peptide were 71.51,6.34,4.81 and 77.19, respectively. The results showed that grass carp peptide had reasonable amino acids composition, which could be high-quality protein resource.