To enhance functional properties of 4 different hoki frame protein hydrolysates (30K, 10K, 5K and 1K hydrolysate) fractionated through a series of 30, 10, 5 and 1 kDa molecular weight cut-off membranes in order to decrease pore size, all hydrolysates were phosphorylated with sodium trimetaphosphate and altered phosphorylated-30K, 10K, 5K and 1K (P-30K, P-10K, P-5K and P-1K), respectively. The covalent attachment of anionic phosphate groups to polypeptide chains improved the functional properties, such as solubility, emulsifying properties and foaming properties, of hold frame protein hydrolysates. Especially, P-30K hydrolysate with the highest molecular weight fraction possessed the most excellent functional properties among 4 different phosphorylated hydrolysates.