Sea cucumber has high nutritional and medicinal value， is characterized by a marine echinoderm with high protein and low lipid. In recent years， a growing number of sea cucumber peptides with bioactive functions have been discovered， including antioxidant， anti-aging， learning and memory improvement， anti-fatigue， anti-hypertensive， antimicrobial， antitumor， immune-regulating， hypoglycemic， as well as anti-inflammatory activities， and regulate the physiological function through multiple ways. This paper aimed to review biological functions of sea cucumber peptides and their potential regulatory mechanisms. Furthermore， main application fields and research directions are presented， which will provide a theoretical basis for the development and utilization of sea cucumber peptides in the future.