The objective of present study is to develop a new method for the preparation of protein from beef bone, and compare it with other methods. The study includes (A) analysis of the degree of hydrolysis, free amino acids and molecular weight of five bone hydrolysates hydrolysed by different treatment schemes, including papain, combination of porcine pancreatic lipase and papain, combination of lipase and papain, Protamex, combination of porcine pancreatic lipase and Protamex; (B) Comparison of the sensory characteristics and the volatile compounds of the MRPs prepared from the five hydrolysates. (C) Study of the relationship between free amino acids, molecular weight distribution of hydrolysates and the sensory characteristics of MRPs. Through the above analyses, the influence of the lipase pre-treatment on beef bone hydrolysate and MRP was investigated.