Abstract: The research situation of fish byproducts( skin,bones and scales) and low- value fish,especially the production of antioxidant peptides derived from them and the comprehensive utilization of fish processing byproducts were reviewed in this paper.The mechanism of antioxidant peptides( free radicals scavenging,inhibition of lipid oxidation,metal ions chelating and synergism with other antioxidants) was described and the industrialized production was also stated.Moreover,it aims to provide the reference for future commercial exploitation and direction for future studies,as well as to improve the added value of aquatic product processing wastes.