A method for increasing the milk coagulating activity of microbial rennet obtained from Mucor pusillus microorganisms, which comprises acylating the microbial rennet in an aqueous medium by contacting the microbial rennet with succinic anhydride at a temperature of about 0°C to about 40°C and a pH of about 4 to about 10 for a time sufficient to obtain the desired increase in milk coagulating activity; and improved microbial rennet having a low PA/MCA index and a high MCA index and obtained by the aforesaid method.