Fish waste biomasses are locally available resources which contain nutrients. Fermentation of the biomass produces slurries used for plankton production and plant/agri-nutri use. Bio-refinery of fish waste material can be converted into value added biological products such as biofuels, industrial chemicals, animal and fish feed, human food, neutraceuticals and organic fertilizer, etc. Fish processing waste could be regarded as a promising renewable biomass resource for bio-refineries. Hydrolysis of fish waste is aimed primarily at industrial applications of the process. Low cost and simplicity of operation by reducing the cost of material, energy consumption and labour, but maintaining high productivity are some of the important attributes at the industrial application process. Fish hydrolysate generally shows a beneficial effect on growth performances and feed utilization at low inclusion levels. The performance is postulated to be due to the balance of free amino acids, peptides and proteins in digestion, absorption and utilization.