Ultrasound (US)-extracted browntop millet protein isolates (UBMPIs) were modified by combined US pretreatment (at 200 W and different time levels 0, 5, 10, 15, and 20 min) and controlled bromelain hydrolysis, and functionalities and bioactive properties of BMPH (BMP hydrolysates) and UBMPH (USpretreated BMPH) were investigated. Compared with the controls, browntop millet protein isolates (BMPI) and BMPH, UBMPH-15 (US pretreated at 200 W for 15 min) was capable of significantly enhanced degrees of hydrolysis (65.68%), emulsifying activity (20.26 m 2 /g), free sulfhydryl content (9.09 μM/g), and protein digestibility (84.13%). However, UBMPH-10 also showed higher hydrophobicity (18.13 μg/g), solubility (88.02%), and foaming capacity (18.52%). In addition, UBMPH-15 and UBMPH-10 enhanced the in vitro antidiabetic activity with inhibition toward αamylase (0.47 mg/mL) and α-glucosidase (0.68 mg/mL), respectively. Moreover, UBMPH-15 showed the highest antilipidemic activity with greater inhibition of cholesteryl esterase (0.34 mg/mL) and lipase (0.51 mg/mL) and displayed significant scavenging activity of 2,2-diphenyl-1-picrylhydrazyl (DPPH) free radicals (73.43%). All these results suggest that UBMPHs could be potential sources of bioactive hydrolysates with enhanced antilipidemic, antidiabetic, and antioxidant activities.