Cranberry pomace obtained after juice production is a good source of dietary fiber and other bioactive compounds. In this study, cranberry pomace was hydrolyzed with Viscozyme® L, Pectinex® Ultra Tropical, Pectinex® Yieldmash Plus, and Celluclast® 1.5L (Novozyme A/S, Denmark). The soluble and insoluble dietary fiber was determined using the Megazyme kit, while the changes in mono-, disaccharide and oligosaccharides’ contents were determined using HPLC-RI; the total phenolic contents were determined by Folin−Ciocalteu’s Assay. Prebiotic activity, using two probiotic strains Lactobacillus acidophilus DSM 20079 and Bifidobacterium animalis DSM 20105, was investigated. The technological properties, such as hydration and oil retention capacity, were evaluated. The enzymatic treatment increased the yield of short-chain soluble saccharides. The highest oligosaccharide content was obtained using Viscozyme® L and Pectinex® Ultra Tropical. All of the tested extracts of cranberry pomace showed the ability to promote growth of selected probiotic bacteria. The insoluble dietary fiber content decreased in all of the samples, while the soluble dietary fiber increased just in samples hydrolyzed with Celluclast® 1.5L. The highest content of total phenolic compounds was obtained using Viscozyme® L and Pectinex® Ultra Tropical (10.9% and 13.1% higher than control, respectively). The enzymatically treated cranberry pomace exhibited lower oil and water retention capacities in most cases. In contrast, water swelling capacity increased by 23% and 70% in samples treated with Viscozyme® L and Celluclast® 1.5L, respectively. Enzymatically treated cranberry pomace has a different composition and technological properties depending on the enzyme used for hydrolysis and can be used in various novel food products.