Fish waste is a great source of minerals, proteins and fat. Potential utilization of waste fish scraps from 5 marine species (white croaker, horse mackerel, flying fish, chub mackerel, Sardine) to produce fish protein hydrolysate by enzymic treatment was investigated by Khan et al. (2003) and indicated that fish protein hydrolysate could be used as a cryoprotectant to suppress the denaturation of proteins of lizard fish surimi during frozen storage Ohba et al. (2003) reported that collagen or keratin contained in livestock and fish waste may be converted to useful products by enzymic hydrolysis, providing new physiologically functional food materials. Collagens containing yellow tail fish bone and swine skin wastes were used as raw materials for production of protein hydrolysates and peptides. These hydrolysates could be of potential use as food ingredients (Morimura et al. 2002). Enzymes and bioactive peptides obtained from fish waste or by-catch and used for fish silage, fish feed or fish sauce production (Gildberg 2004). Auto-hydrolysis of waste fish viscera to produce peptone hydrolysates and their use in microbiological media to support growth and bacteriocin production by lactic acid bacteria are reported by Vanquez et al. (2004). There are several alternative uses of fish processing waste, like utilization of fish mince, applications of fish gelatin, fish as a source of nutraceutical ingredients, fishmeal production, the possible use of fish and protein concentrate as a food source. The potential uses of fish waste are depicted in Table 7.