A two-step process of enzymatic hydrolyzation followed by Maillard reaction was used to produce oyster meat hydrolysate Maillard reaction products (MRPs). The flavor of oyster meat hydrolysate MRPs was significantly improved through an optimized orthogonal experimental design. Comparisons between the antioxidative activities of oyster meat hydrolysates and their MRPs were made using lipid peroxidation inhabitation, hydroxyl radical scavenging radical activity, and radical scavenging activity of 2,2 diphenyl-1-picrylhydrazyl (DPPH). These methods indicated that an improvement of Maillard reaction on the oyster meat hydrolysates antioxidative activity. Gas chromatography-mass spectrometry illustrated that the increase was due to the newly formed antioxidative compounds after Maillard reaction, mainly of acids from 22.45% to 37.77% and phenols from 0% to 9.88%.