Abstract: A composition and method of preparing a pea protein hydrolysate includes obtaining a pea protein composition, adding a fungal protease to the pea protein composition, and hydrolyzing the pea protein composition to a degree of hydrolysis of about 4% or greater to obtain a pea protein hydrolysate. In an example, the degree of hydrolysis can range from about 4% to about 25% at a pH ranging from about 5 to about 7.5 and at a temperature ranging from about 30° C. to about 60° C. The resulting pea protein hydrolysate has a solubility of at least 30% at pH 3.4, a viscosity of at least 65 cPs at pH 3.4, a dispersibility of at least 115 seconds at about neutral H, and a suspendability of at least 1.5 TSI Global at pH 3.4.