This study is designed to show the effect of papain, the dried latex of Carica Papaya, Linne, as a proteolytic agent in the fermentation of “bagoong” (fish paste) and patis (fish sauce). It has been found that as a proteolytic agent, 0.3 percent to 0.5 percent of purified papain is most effective concentration in accelerating the fermentation process. The usual fermenting period which takes around six (6) months or more has been reduced to 4 to 7 days without destroying the characteristic flavor inherent to the final product. Likewise, the use crude papaya latex gave similar results.