In recent years, the protein hydrolysates which come from aquatic organisms, especially from marine organisms，have been known and accepted widely due to their special functionality, however, they often have the unpleasant color and odor. Researchers have been working hard in order to look for the better way to remove the unpleasant color and odor and protect the functional material as much as possible at the same time. The enzymolysis liquid with high hydroxyl radical scavenging activity was gotten from waste of seafood. The waste of seafoods is rich in collagen and hydrolyzed by marine alkaline protease 894. In order to determine the better way to decolorize and deodorize, comprehensive value has been adopted by the formula of “comprehensive value(Y)=sensory value×0.6+activity recovery×100×0.4”. The decolorization and deodorization effect on the enzymolysis liquid has been investigated with the six factors such as reaction temperature(X₁), pH(X₂), reaction time(X₆) and the amount of active carbon(X₃), β-cyclodextrin(X₄), yeast(X₅) through linear regression orthogonal design. Analyses are carried out based on F-test and t-test. Results show that both the temperature from 30 to 50 ℃ and the amount of active carbon from 0.5% to 1.5% were insignificant（P>0.05）, though the comprehensive value increases with the increasing of the factors value. The pH value was highly significant（P<0.01）from 4 to 6, and the comprehensive value decreased remarkabaly with the increasing pH value. The amount of yeast was significant（P<0.05）from 0.1% to 1.1%, and the comprehensive value decreases with the amount increasing. Both the amount of β-cyclodextrin from 0.1% to 1.1% and action time from 30 to 70 minutes were all insignificant（P>0.05）. Among the possible interactions, the interaction of the pH and the amount of yeast was significant（P<0.05）in their data zone, the comprehensive value becomes higher with decreasing of pH value and the amount of yeast. Through the regression equation and results analysis the optimum conditions were obtained: 37 ℃, pH 4.0, active carbon 0.8%,β-cyclodextrin and yeast 0.1% respectively，reaction for 30 minutes. Under theses conditions, the comprehensive value is 90.90, the protein recovery is 98.02%, the IC₅₀ concentration of hydroxyl radical scavenging had been changed to 1.62 mg·mL^-1 from 1.42 mg·mL^-1. More properties need to investigate deeply.