Eight bonito protein hydrolysates were prepared under different enzymatic hydrolysis processing with the index of protein recovery rate and bonito fish as raw materials. The xanthine oxidase（XOD） inhibitory activity， ORAC values， molecular weight distribution and the total contents of amino acid was measured. The correlation of XOD inhibitory activity and antioxidant activity of bonito protein hydrolysates with molecular weight distribution and the total contents of amino acid was constructed. The ultra-performance liquid chromatography-high resolution mass spectrometry （LC-MS/MS） was used to study the distribution of those peptides with XOD inhibitory activity and antioxidant activity. The results demonstrated that the correlation between XOD inhibitory activity and ORAC values was significant. The distribution of those peptides molecular weight <1 ku and the contents of aliphatic amino acids could be used to preliminarily evaluate the activities of bonito protein hydrolysates. After purification， the concentration of active peptides of fractions isolated from bonito protein hydrolysates was enhanced， and the total ion flow diagram of the purified fractions was related to the their uric-acid-lowering activity and antioxidant activity.