The present invention discloses a protein hydrolyzate preparation technology which includes the following steps: pre-treatment, soybean protein preparation,activation treatment of enzymes in porcine pancreas, hydrolysis reaction, hydrolyzate separation, high temperature inactivation, sedimentation treatment, concentration, secondary inactivation, secondary sedimentation, secondary separation, etc. Compared to the prior art, the porcine pancreas are directly used and subjected to lime milk treatment at high static pressure conditions, the activity of pancreatic enzymes are higher, the hydrolytic effect is good, and the protein hydrolyzate does not contain heavy metals. Besides, compound flavored protease and alkaline protease are used in the hydrolysis, the hydrolytic efficiency is high and the product is good in taste.The secondary sedimentation and separation are used to finally obtain a product with fewer impurities,protein oral liquid in a liquid state contains no suspended substances and the product quality is improved. The protein is completely hydrolyzed and the protein hydrolyzate is rich in nutrition and easy to absorb.