In this study, we screen the proteolytic activity of Bacillus species in meat and bone meal (MBM) and investigate the effects of fermented MBM–soybean meal products (FMSMPs) on the growth performance of broilers. In Trial 1, FMSMPs were fermented using four strains—Bacillus siamensis M3 (M3), B. velezensis M5 (M5), B. subtilis M6 (M6), and B. subtilis M20 (M20)—all of which presented more total peptides and higher degrees of hydrolysis (DH) than Bacillus subtilis var. natto N21 (N21). In Trial 2, 280 0-day-old Arbor Acres broilers, with equal numbers of both sexes, were randomly assigned into 5% fish meal (FM), MBM–soybean meal (MSM, as control), and N21, M3, M5, M6, and M20 FMSMP groups. The results demonstrated that the crude protein, total amino acids, alkaline protease, trichloroacetic acid–soluble nitrogen (TCA-SN), TCA-SN/total nitrogen, total peptides, DH, and free-hydroxyproline levels in the M6 group were greater than those in any other group (p < 0.05). Furthermore, the weight gain in the M6 group was superior to that of the FM and MSM groups in 0–21 and 0–35-day-old broilers (p < 0.05). In conclusion, B. subtilis M6 likely efficiently decomposes MSM to improve the protein properties and nutritional value of the product after fermentation. Supplementation with 5% FMSMP may promote weight gain in broilers.