Purpose: The material properties of contact lenses were measured by varying the amounts of an initiator and a cross-linking agent that are the basis for the manufacture of contact lenses, and the drug delivery effects depending on the material properties of contact lenses were compared. Methods: Contact lens samples were manufactured using HEMA by varying the concentration of the cross-linking agent and the initiator. To investigate the changes in physical characteristics depending on the material properties, the results of the experiments on the amount of drug elution, water content, refractive index, and the amount of protein adsorption were compared. Results: For the contact lenses manufactured by varying the amount of the initiator, the water content hardly changed, and the refractive index also hardly changed. The amount of drug elution was not much affected by the changes in the initiator, but the amount of elution increased as the water content increased. The amount of protein adsorption was hardly affected by the changes in the initiator, but the amount of adsorption increased as the water content decreased. Conclusions: The changes in the properties were hardly affected by the changes in the amount of the initiator, but were significantly affected by the changes in the amount of the cross-linking agent. As the amount of the cross-linking agent increased, the water content decreased, while the refractive index increased. Also, when the water content increased, the amount of drug elution increased, while the amount of protein adsorption decreased.