Fish protein hydrolysates were prepared from Cuttlefish (Sepia pharaonis) muscle using alcalase and protamex methods. By conducting the Cuttlefish protein hydrolysate using alcalase (CPHA), it showed higher degrees of hydrolysis, proximate composition, yield, emulsifying activity index (EAI), emulsion stability index (ESI), foaming activity index (FAI), solubility, water holding capacity (WHC) and Oil absorption capacity (OAC) than cuttlefish protein hydrolysate using protamex (CPHP) but the foaming stability index (FSI) and peptide chain length (PCL) were more in the second treatment. Amino acids profiles of the CPHs were higher in essential amino acids compared to the recommended pattern of requirement by FAO/WHO and NRC standards. Phenylalanine is the first limiting amino acid in the hydrolysate. However, the hydrolysate has the potential for application as an ingredient in formulated diets. Some functional properties such as FAI, FSI and solubility were high in CPHs, thus, they can be used in different food and beverages.