The present invention addresses the problem of providing an albumen hydrolysate that has emulsifiability, emulsion stability and heat coagulability. An albumen hydrolysate obtained by hydrolysis of albumen with a protease, wherein the dry weight of a precipitate formed by adding nine times the amount of 0.4 M trichloroacetic acid (TCA) to the albumen hydrolysate is 60% or more relative to the dry weight of albumen treated in the same manner.