The proteolytic activities of aqueous extracts of mullet and Alaska pollack roes were surveyed and the hydrolyzing activities toward casein, hemoglobin, and L-Leu-p-nitroanilide (Leu-pNA) were detected in both extracts. But the activities of trypsin-like enzyme and carboxypeptidases A and B were not recognized. The detected activities were quite stable throughout the processing of dried mullet roe (Karasumi) and salted Alaska pollack roe (Tarako) except that the activity toward Leu- pNA decreased remarkably in Tarako. The effects of pH, temperature, and NaCl on those activities were also examined and the possible contribution of the proteolytic activities to the increase of free amino acids during the processing of both products was discussed.