The invention discloses a method for preparing vegetable protein into a senior condiment by utilizing the modern biology engineering technology. The preparation method includes the working procedures as follows: smashing of defatted soybean meal, soybean milk mixing, enzymolysis, debitterizing, fermentation, deslagging, concentration, Maillard flavoring reaction, drying and the like, thus refining the lactalbumin hydrolysate. The product prepared by the method is rich in small molecular protein, active peptide, amino acid and trace element, has double functions of seasoning and nutrition and health care, serves as a seasoning basic material for foods and condiments, can be broadly applied to condiments, nutrient and health-care products, biochemical reagents, functional foods, frozen foods, baked-puffed foods, leisure foods, sausages, meat products, prepared foods and the like; the product quality is improved; and the product also can be made into the senior condiment by proper concoction.