Sikhae is a traditional Korean fermented seafood with a 7-10% salt concentration. Consumers have begun to look for low-salt food because excess salt is known to cause hypertension and gastric cancer. The quality characteristics of low-salt squid sikhae were investigated at different fermentation temperatures and periods, so as to determine its shelflife. The shelf-life of the low-salt (5%) squid sikhae at $-1^{circ}C$ based on pH was 142 days. The functional activities of the ethanol extract of squid sikhae such as its antioxidant activity and inhibitions on ${alpha}$-glucosidase, ${eta}$-glucuronidase, and elastase were stronger than those of the water extract. Based on the results of sensory evaluation, the low-salted squid sikhae was very similar to fermented seafood. In conclusion, low-salt sikhae is commercially viable.