This study examined ways to improve the functional properties of commercial soy sauce using gelatin hydrolysates from the refiner discharge of Alaska pollock, Theragra chalcogramma. The total nitrogen content and pH of gelatin sauce prepared by dissolving the second-step gelatin hydrolysates (15 g), salt (20 g), sugar (5 g), glucose (2.5 g), inosine monophosphate (IMP) (0.5 g), black pepper (0.1 g), caramel powder (0.1 g), ginger powder (0.05 g), garlic powder (0.05 g), vinegar (3 mL), and fructose (3 mL) in water(100 mL) were 1.71% and 5.35, respectively. The results of a sensory evaluation indicated that when preparing blended soy sauce, the optimal blending ratio of gelatin sauce to commercial soy sauce was 20:80 (v/v). Because the total nitrogen content and pH of the blended soy sauce were 1.52% and 5.31, respectively, the blended soy sauce could be sold as a soy sauce. The oxidative property of the blended soy sauce was similar to that of 20 mM ascorbic acid, and its angiotensin-converting enzyme (ACE) -inhibiting activity was 1.5 mg/mL. The results suggest that the antioxidative and ACE-inhibiting activities of commercial soy sauce can be improved by blending gelatin sauce (20) with commercial soy sauce (80). The total amino acid content of the blended soy sauce was 9,107.3 mg/mL, which was higher than that (8,992.4 mg/100 mL) of commercial soy sauce. However, the taste value of the blended soy sauce was 415.8, which was lower than that (431.2) of commercial soy sauce.