In order to investigate the composition of dried layer, Porphyra yezoensis cultured at the south coast of Korea, the dried laver was analyzed separately for extractive nitrogen, free and combined amino acids, ATP and related compounds and quaternary ammonium basis using specimens collected monthly from January to April 1998. The extractive nitrogen contents of dried layer extracts were $976~1,196;mg/100;g$ (on dry basis). Twenty-eight to thirty-one kinds of free amino acids were found in the dried laver extracts and their total amounts were 5,648-6,845 mg/100 g (on dry basis). The extracts were rich in free amino acids such as alanine, glutamic acid, taurine, phosphoserine and aspartic acid. Eighteen to twenty-two kinds of combined amino acids from oligopeptides were found in the extracts and their total amounts were $1,194~1,406;mg/100;g$ (on dry basis). The amounts of ATP and related compounds were $111.6~195.5;mg/100;g;(3.30~6.00{mu}mol/g$ on dry basis). Homarine was detected in all samples but glycinebetaine, $eta$-alaninebetaine and $gamma$-butyrobetaine disappeared during processing, TMAO was detected in all samples but low TMA was found in some. During processing of dried layer, P. yezoensis, free amino acids, ATP and its related compounds were increased but the other constituents such as combined amino acids, TMAO and TMA and betaines were decreased in all specimens.