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The hydrolysis of α‐, β‐ and γ‐cyclodextrins by Aspergillus oryzae α‐amylase was studied at pH 5.2 and 37°C. The kinetic parameters were determined and it was found that the V max value increased markedly in the order α‐, β‐ and γ‐cyclodextrin, but no significant difference was observed in the Km values. The qualitative and quantitative distribution of the hydrolysis products were determined by HPLC. In the case of γ‐cyclodextrin the time course of the kinetic parameters was compared to the qualitative and quantitative distribution of the hydrolysis products.