Milk proteins are high-quality proteins, mainly consisting of whey proteins and caseins. In whey proteins, branched-chain amino acids are 2.7 times more abundant than aromatic amino acids. Antioxidant peptides can be produced in large quantity from the hydrolysis of caseins. The main milk proteins, with well-balanced amino acid composition, show great promise as a source of bioactive peptides. In this paper, we review the state of the art in the preparation of high F value oligopeptides and elucidate the feasibility of preparing high F value oligopeptides from milk proteins, in order to provide a theoretical basis for expand the source of high F value oligopeptides.