Fish sauce, a nourishing condiment, was usually fermented from marine fish. In this research silver carp and its waste in surimi processing were used as raw material for fermentation. The changes of pH value, T VBN and amino acids during the fermentation were investigated. The composition in products was analyzed and the components of amino acids in the products were compared. The result showed that pH value, T-VBN and the change tendency of amino acid were familiar. The sensory evaluation of products made from silver carp and waste had not big difference. The amino nitrogen and total nitrogen in fish sauce fermented from waste were less than those fermented from silver carp. However, the translation ratio of amino acid, fat, red index and the quotient of the components of amino acid that have delicious taste in the former were higher than the latter.