Spent brewer’s yeast Saccharomyces cerevisiae was hydrolysed using bovine pancreatictissue as an enzyme source. The resulting hydrolysate contains 4.7% amino nitrogenand the ratio Namin/Ntot was determined as 0.6. Moreover, other physico-chemicalparameters of the hydrolysate were also comparable with the same products on foreignmarkets. Toxicity of hydrolysate is low (LD50 2,5 g/kg), microbiological and heavy metalcontamination were in required range. The IC50 value of obtained yeast hydrolysate’santioxidative activity according to the DPPH assay was 1.6±0.5 mg/ml, while IC¬50 ofthe yeast hydrolysate rich in Cyclo-His-Pro evaluated as 1.9 mg/mL.