This invention relates to a method of sterilizing and producing a fish-paste product by utilizing microbubbles, which comprises the steps consisting of adding ozone gas-containing microbubbles generated in water to raw materials of a fish-paste product, coating the interfaces of the ozone gas-containing microbubbles with tissues in raw materials of a fish-paste product thereby maintaining the longevity of the ozone gas-containing microbubbles, and stimulating the ozone gas-containing microbubbles thereby rupturing coating shells of the ozone gas-containing microbubbles, as well as a germ-free fish-paste product produced by the production method.