Five mold strains - Mucor racemousus, Rhizopus oryzae, Aspergillus oryzae, Aspergillus kawachii, and Monascus purpureus - were used for the fermentation of both freeze-dried and air-dried silkworm powders. The concentrations of proteins and minerals, electrophoretical protein patterns, fatty acid composition and the activities of fibrinolytic and antioxidation with freeze-dried silkworm (FDSW) or air-dried silkworm powders (ADSW) fermented by the five molds were investigated. The concentrations of major minerals in fermented FDSW and ADSW powders were K by 72.0-76.3 and 77.1-78.9 ppm, Mg by 29.6-49.7 and 44.3-58.7 ppm, Ca by 1.9-14.9 and 9.8-21.6 ppm and Zn by 0.64-0.70 and 4.17-4.52 ppm, respectively. Major fatty acids in fermented FDSW and ADSW powders were linolenic acid, oleic acid, and palmitic acid. There were slightly varietal differences in electrophoretical protein patterns when total protein patterns of fermented FDSW and ADSW powders were analyzed by native-and SDS-polyacrylamide gel electrophoresis (PAGE). DPPH radical scavenging activity was slightly stronger in fermented ADSW powders than that in fermented FDSW. Fibriolytic activity was only detected in the FDSW fermented by Aspergillus kawachi and Monascus purpureus. These results may provide the basic data to understand the biological activities and chemical characteristics of silkworm fermented by mold, which can be used for the development of functional foods.