The aim of this work focuses on the study of low molecular weight (LMW) compounds with antioxidant and antihy-pertensive effect in Iberian ham and La Serena cheese, two traditional products in Spain, in comparison to cured ham and matured Ewe’s milk cheese. Proteolysis parameters were studied, LMW compounds were isolated and their antioxidant and antihypertensive activity was analyzed. Results showed that a more intense proteolysis, expressed as peptidic nitrogen (PN), in Iberian ham (p < 0.001), can cause higher antioxidant activity in this product for both DPPH radical scavenging (p < 0.001) and metal chelating effect (p < 0.001). However, a more intense proteolysis in La Serena cheese, expressed as non protein nitrogen (NPN) (p < 0.001) and PN (p < 0.001), did not promote higher antioxidant activity in this cheese. On the other hand, no differences were found for antihypertensive activity, expressed as angiotensin I-converting enzyme (ACE) inhibitory activity, in both type of hams or cheese.