The invention relates to the alcohol industry and the production of protein feed and may find application in the production of ethanol from cereal grains with the simultaneous production of feed products. The method for producing ethanol and feed products comprising the processing operations of grain grinding, recovering of brans and flour-grist mixture from the ground grain, enzymatic hydrolysis of flour-grist mixture to obtain mash, mash fermentation to obtain beer, the biomass containing mainly grain protein recovery from beer, the homogenization of biomasses, the removal of water soluble dry solids from the biomass.