Abstract: Fermented peptides from goose liver were prepared using Bacillus amyloliquefaciens,Bacillus licheniformis,and Lactobacillus acidophilus. The fermented peptides were separated and purified by Sephadex G-25 gel filtration chromatography. The composition and content of amino acids were analysed by amino acid analyzer,and then functions( antioxidant activity and metals- chelating activity) of P1,P2,P3 were studied. The relative molecular weight of high- active fraction was determined by MALDI- TOF/ TOF. Three peptide peaks were obtained after Sephadex G- 25 gel filtration chromatography. The content of essential amino acid of P3( 70.32 ±5.35) mg /100 g was significantly higher than P1( 40.06 ± 2.04) mg /100 g,and P2( 55.39 ± 2.56) mg /100 g.Proportions of sulfur- containing amino acids( Met,Cys) and hydrophobic amino acids( Val,Ile,Leu,Phe,Ala) in total amino acids of P3( 17.78%,31.31%) were higher than those of P1( 8.18%,21.46%) and P2( 6.63%,21.53%).P1,P2 and P3 all possessed strong antioxidant activity. The TBRAS of P3( 0.2495 ± 0.016) was significantly smaller than P1,P2( p < 0.01),the hydroxyl radical scavenging ratio 75.75% ± 0.49%,Fe2 +chelating activity 72.40% ± 0.80%and Cu2 +chelating activity 69.04% ± 0.40% was significantly higher than P1,P2( p < 0.05).The relative molecular weight of P3 was determined to be lower than 1.02 ku by MALDI- TOF/ TOF.