To explore the effect of plant protein hydrolysate (PPHS, soy and pea protein hydrolysate) on the characteristics of low‐fat Mozzarella cheeses (LFCs), samples incorporating PPHS were prepared and analysed for pizza bake performance, texture, meltability, sensory attributes and microstructure. Upon addition of an appropriate amount of PPHS to cheese milk, the pizza bake performance, stretch performance and sensory properties of LFC were improved, while the texture values (hardness, stickiness and stretch force) decreased gradually. Cheese matrix exhibited an irregular honeycomb structure as the PPHS content increased. Therefore, PPHS holds promise as substitute for milk protein, and LFC containing PPHS represents a highly promising low‐fat dairy product with improved quality and diversified ingredients.