The objective of this study is to optimize enzymatic hydrolysis of cooked krill by using Alcalase. To optimize krill hydrolysis on such dependent variables as TCA, DPPH-scavenging, and Fe-chelating activities by using Alcalase, independent variables of hydrolysis pH and temperature were investigated Their formulas and three dimensional graphs were obtained by using SAS and Maple softwares, respectively. For comparison of general composition of raw krill, its contents of moisture, crude protein, crude fat, and ash were 17.48%, 53.74%, 15.66%, and 10.21%, respectively, and for cooked krill, its contents were 4.80%, 71.84%, 5.26%, and 15.09%, respectively. The composition of fatty acids for cooked krill was similar to that of raw krill. The most abundant fatty acid was palmitic acid(16:0) and the following order was oleic acid(18:1), eicosapentaenoic acid (20:5), palmitoleic acid(16:1), and docosahexaenoic acid(22:6). For DH optimization of hydrolysates from cooked krill, its result was pH 8.5 and $66.6^{circ}C$ hydrolysis temperature for the maximum DH of 29.4% For DPPH-antioxidative optimization of hydrolysates from raw krill, its maximum result of 27.1% was obtained in the hydrolysis condition of pH 7.4 and $67.5^{circ}C$. For Fe-chelating optimization of hydrolysates from cooked krill, its maximum result of 24.9% was in the condition of pH 8.7 and $65.5^{circ}C$. These results can be used for basic data for using krill products and other fish products as bioactive ingredients.