The studies was carried out to investigate ripening degree and functional properties of EMC produced with pancreatic protease and palatase ML. During production of EMC, the amounts of free amino acid and free fatty acid were increased with increasing the reaction time. The amount of total nitrogen(T-N) and water soluble nitrogen(WSN) were increased with increasing time. EMC had contents of 1.79eA T-N and 0.52o WSN at 60 min of hydrolysis time. SRI and FRI value had also a similar correlationship. On the gel filtration, 2 kinds of soluble proteining capacity was also shown in alkali solution. Furthermore the foaming stability had the same result as that of the solubility. The water absorption of EMC showed the highest level at pH 4.0 and 5.0.