The invention is directed to methods for extracting phosvitin from egg yolk involving contacting the egg yolk or egg yolk protein granules with a solution having a salt concentration of about 10% to form a mixture; optionally, heating the mixture; adjusting the pH of the mixture to separate phosvitin from other proteins; recovering the phosvitin. The phosvitin extract may be dephosphorylated and hydrolyzed to produce phosvitin phosphopeptides.