Abstract: Soy peptide is low molecular peptide mixture which is hydrolyzed by soy protein.It is composed of 3～6 amino acid residues, with a total molecular weight below 1000u.Soy peptide has many excellent physical and chemical properties and physiological activities, which can be applied in various areas.This article discussed the composition, physical and chemical properties, physiological activities of soy peptide and its application in food industry.The research situation, research level and development trend of soy peptide were also analyzed.