Whey protein concentrate (WPC 80) was hydrolyzed by Alcalase 2.4 L and Protamex to 5, 10, 15 and 20% degree of hydrolysis (DH). WPC 80 and its hydrolysates were analyzed, compared and used for measuring some functional properties. All hydrolysates were different from WPC 80 in protein, moisture and ash content. Free amino groups and protein solubility increased with increasing DH. The peptides produced by hydrolysis had smaller molecular sizes, and their average molecular weight decreased as the DH increased. Except hydrolysates generated by Alcalase 2.4 L at 5% DH, all others showed poor emulsifying and foaming properties compared with unhydrolyzed WPC 80. Gelation properties of WPC 80 and its hydrolysates were different. The global amino acid compositions did not differ significantly between the different hydrolysates, and they were very close among WPC 80 and its hydrolysates except for Methionine, Glycine, Histidine and Valine.