Eggs are linked to some health-related problems, for example, allergy, and religious restrictions, thus the food manufacturer is challenged to find egg replacements and include the physicochemical properties of egg in food. In this study, enzymatic hydrolysis of rice protein was used to produce rice protein hydrolysates (RPHs) for use as an egg replacement in flaky egg rolls. Formulations were control (A), rice protein isolate (B), RPH15 (C), RPH30 (D), and RPH60 (E), respectively. The protein content of formula E increased from 19.69 to 22.18 g/100 g, while carbohydrate and sugar content decreased to 64.12 and 12.26 g/100 g, respectively. Overall amino acid contents significantly increased as compared with formula A. The overall acceptability for sensory evaluation was higher with formula C. The color of the sample was highly affected by the protein-rich ingredients accounting to a Maillard reaction progression and causing a decrease in brightness (L*) and increase in redness (a*). RPHs successfully maintained the functional and physiochemical properties, along with flavor and texture, of flaky egg rolls and could be an egg replacement. These high-value RPHs produced by enzymatic hydrolysis could be beneficial for various applications, particularly food and related industries.