Abstract: Marine bioactive peptides are a kind of peptides with various structures, functions and activities. The production and preparation, separation and purification as well as biological activities have attracted much attention. It's already proved by many researches that marine bioactive peptides are a new drug source with a lot of potential. However, research on the integration of marine bioactive peptide preparation technology and biological application is still lacking. In this paper, the methods of production and preparation, separation and purification of marine bioactive peptides in recent years are reviewed. The principles, advantages and disadvantages, applicable objects and future development trend are expounded while the functional activities of marine bioactive peptides such as anti-oxidation, anti-diabetes, lowering blood pressure, anti-bacterial and anti-cancer are introduced. The structure-activity relationship and the future development direction of marine bioactive peptides are explored in depth so as to provide a strong theoretical basis for developing the new marine drugs.