Abstract: A composition and method of preparing a corn protein hydrolysate includes obtaining a corn protein composition having a corn protein concentration of at least about 75 wt %, adding an enzyme to a corn protein suspension containing the corn protein composition at a ratio of from about 1:100 to about 1:20 by weight of enzyme to corn protein, controlling the pH and temperature of the corn protein suspension to hydrolyze the corn protein, and terminating the hydrolysis of the corn protein to provide a corn protein hydrolysate that has solubility of from about 7% to about 37% at a pH selected from the group consisting of pH 7.0, pH 3.4, pH 5, and all of pH 7.0, pH 5, and pH 3.4. The corn protein hydrolysate can be used in a variety of food, feed, beverage, and other applications.