Euphausia superba Dana is a kind of polar marine life with huge resources and high nutritional value. Its high protein content and amino acid composition in line with the high quality protein standards of Food and Agriculture Organization (FAO) and World Health Organization (WHO) make it high quality protein with a good potential for development and utilization. With Euphausia superba Dana protein as raw material, effects of enzymatic hydrolysis on its functional properties (water absorption, oil absorption, emulsibility and foamability) were investigated. The assessment methods of functional properties of Euphausia superba Dana protein were international general methods for assessment of functional properties of food protein. Enzymatic hydrolysis could improve oil absorption capacity, emulsibility, foamability and foaming stability of Euphausia superba Dana protein, improve its functional properties in a targeted way, and improve the feasibility of practical application of Euphausia superba Dana protein and its derivatives. Researches showed that enzymatic hydrolysis could improve the functional properties of Euphausia superba Dana protein and broaden its application field and scope.