The purpose of this study was to investigate and compare the physicochemical properties of fish protein isolate (FPI) produced from silver carp (Hypophthalmichthys molitrix), which is a relatively cheap fish with low consumption in Fars (a state of Iran). In this research, proteins were isolated using pH shifts method. Results showed that in terms of production efficiency, protein recovery, lipid reduction and functional properties such as water-holding capacity, emulsifying capacity, foaming capacity and water absorption, FPI was better than conventional surimi. The treated samples at pH = 2.5 represented better functional properties relative to other samples. The electrophoretic patterns demonstrated that acidic pH led to vanish high molecular weight protein bands because these proteins were converted to low molecular weight proteins, whereas basic pH caused the formation of high molecular weight proteins relative to myosin heavy chain. It seems that in basic pH, the proteins were linked together after denaturation and then aggregated. Overall, the results showed that physicochemical qualitative properties of FPI were better than those of conventional surimi.