Our country is rich in aquatic resource. The fishery industry in China has developed rapidly and it led to the great amount of by-product-remnants. Because of the high content of protein, the active peptides could be prepared by enzymatic hydrolysis to be utilized. The proper utilization of by-products is very significant as it can reduce the waste of aquatic resources, improve the additional value, lower the cost and increase the economic benefit. In this paper, the sources of antioxidant peptides from by-products of aquatic product, isolation of antioxidant peptides, detection of antioxidant activity and antioxidant mechanism were summarized.