Uncontrolled generation of free radicals can lead to oxidative damage of food and human health problems. Synthetic antioxidants are commonly used in the food and pharmaceutical industries to retard lipid oxidation but their application is strictly controlled due to toxicity and carcinogenicity. Marine organisms that comprise half of the world's diversity are rich sources of bioactive compounds such as peptides, which can be used in the production of functional food. This study reviewed the studies conducted on the antioxidant peptides from marine sources, methods used for their purification and identification and their structures and mechanisms of antioxidant activity, both in vitro and in vivo .Review of studies showed that peptides derived from marine sources show potential antioxidant activity in vitro, in animal models and in food systems. Peptides size, type of amino acids, position of amino acids within peptides and hydrophobicity can influence antioxidant activity of peptides. Antioxidant peptides can be used as functional ingredients to control oxidation of fat and protein in food products. These peptides control the oxidation processes and have potential impact in the treatment and control of human diseases.