The invention relates to a method for enzymatically obtaining protein hydrolysates for human consumption, animal feed and cosmetics. The process involves the use of a proteolytic composition derived from fish, such as Cod (Gadus morhua), to obtain hydrolysates which have a non-bitter taste and retain the flavor and aroma of the protein-containing material which is hydrolyzed: e.g. when hydrolyzing protein-containing material from marine organisms or parts thereof, such as fish, shrimp, lobster or other seafood according to the invention, a protein hydrolysate is produced that has a characteristic natural flavor of the organism Also provided are food products comprising the hydrolysates of the invention, such as soup, sauce, cheese, HVP, meat extract and flavoring agent, broth, pate, mousse, frying dough, orly dough, and pastries.