Relationship between structure and biological activity was performed using the five substance P-related peptides (SPRPs) [mammalian-SP (M-SP), cod-SP (C-SP), trout-SP (T-SP), lungfish-SP (L-SP) and Ranakinin] and four SP analogs [[$His^5$]-SP (5H-SP), [$Gly^5$]-SP (5G-SP), ($Ile^8$)-SP (8I-SP) and ($Trp^8$)-Ranakinin (8W-Ranakinin)]. The circular dichroism (CD) spectra showed that all of the peptides took an unordered structure in buffer solution and artificial liposomes. However, 8W-Ranakinin undergoes conformational changes by being transferred into neutral and acidic liposomes from an unordered structure to more ordered structure. The arterial relaxing effect of the peptides was also studied with guinea-pig aorta (GPA), As a result of the studies, L-SP was about 14-fold more potant than M-SP. The order of potency compared to $EC_{50}$ value was $L-SP{gg}M-SP>5G-SP{ge}8I-SP>5H-SP>T-SP$, C-SP, Ranakinin, 8W-Ranakinin.