A protein hydrolysate comprising at least two types of peptides, characterized
in that the rate of hydrolysis of protein is from 30 to 45%, the number average
molecular weight is 300 or less, and the ratio of a weight average molecular weight
to the number average molecular weight is greater than 1 and 2 or less, has excellent
emulsifiability, and antigenicity thereof is low enough to be used for people who
has predisposition to allergic diseases. This protein hydrolysate is obtained by
hydrolysis of a protein starting material to a rate of hydrolysis in the range
of 30 to 45%, and then bringing it into contact simultaneously or separately with
two types of porous synthetic adsorbent respectively having an average pore radius
of 2 to 8 nm and an average pore radius of 20 to 30 nm, the total surface area
of the two porous synthetic adsorbents being in a range of 300 to 3000 m2
per 1 g (protein equivalent) of the obtained protein hydrolysate, and recovering
the non-adsorbed component.