This study was conducted to develop and characterize sea squirt Halocynthia roretzi sikhae. According to the results for pH, total acidity, lactic acid bacteria, amino nitrogen and sensory evaluation of sea squirt sikhae during fermentation for 6 days at $15^{circ}C$, the optimum fermentation periods were 4 days for sourness-disliking customers and 5 days for sour-disliking customers. No differences in the proximate compositions of sea squirt sikhaes fermented for 4 days (4D) and for 5 days (5D) were found. There was a difference in the eproximate compositions of commercial seasoned sea squirts, 4D and 5D, sea squirt sikhaes. The results of salinity, total acidity, amino nitrogen and sensory evaluation of two kinds of sikhae suggest that the taste was stronger for 5D than for 4D, both of which were superior to commercial seasoned sea squirts. There was, however, no difference in color of 4D, 5D and commercial seasoned sea squirts. The results of E. coli analyses suggest that sea squirt sikhae is a safe food in terms of sanitation.