Sericin is a natural protein and a by-product obtained from silk processing. To enhance the antioxidant properties of sericin, sericin hydrolysis was studied. The solvent effects (distilled water, citric acid and hydrochloric acid) and hydrolysis methods (heat treatment (water bath) and mild ultrasonic treatment at 20%, 40% or 60% amplitude) were investigated on the properties of sericin hydrolysate (SH). Furthermore, solvent effects (distilled water and 15% ethanol) were examined for the properties of the sericin films incorporated with selected SH. The SH samples from acid hydrolysis and the ultrasonic method had a darkened visual appearance. However, the degree of hydrolysis and antioxidant activity of SH increased with ultrasonic-assisted acid hydrolysis. The molecular weight (MW) of sericin was notably reduced. As expected, hydrochloric acid hydrolysis resulted in a lower MW for the SH than from citric acid. Thus, SH from hydrochloric acid and 20% amplitude in the ultrasonic method were selected to produce a sericin film. As revealed, using distilled water as a general solvent provided films with lower solubility and water vapor permeability but higher tensile strength. Furthermore, the addition of SH enhanced the antioxidant properties of its hydrolysate as a novel protein packaging film material for various applications.