AS a part of investigation to use anchovy more effectively as food source, this work was undertaken the processing conditions of extracts from rapid fermented anchovy sauce. To prepare rapid fermented products, the chopped anchovy was mixed with 50% water (w/w), and then hydrolyzed by autolysis or addition of koji under different conditions of hydrolysis. The optimal conditions for hydrolysis of chopped anchovy were revealed $50^{circ}C$, 6 hours, pH 8.0 by autolysis, and ,$50^{circ}C$, 6 hours, pH 7.0 by addition of 10% koji, respectively. But, pH control was not much beneficial in increasing yield. The effect of soybean protein isolote for improvement of bitter taste was also tested. The reasonable amount of added soybean protein isolate was revealed 5% on the weight basis of the chopped anchovy. The reaction mixture hydrolyzed under optimal conditions were added with 1% onion powder (w/w), 1% garlic powder(w/w) and 1% red pepper powder(w/w) for masking fishy odor, inactivated for 20 min at $100^{circ}C$, and then centrifuged for 20 min at 4,000 rpm. The supernatant liquor was filtrated and evaporated to 50%(v/v). finally, table salt was added for bateriostatic effect and characteristic taste of rapid fermented products. the reasonable amount of added table salt was reversed 15% on the volume basis of the evaporated liquor. The hydrolysis ratio of product made by addition of water, product made by addition of koji and water, and product made by addition of soybean protein isolate, koji and water hydrolyzed under optimal conditions were 58.4%, 82.1% and 86.2%, respectively.