The underutilization of keratin-rich snakeskin shed (SS) to produce bioactive hydrolysate has not been explored to prevent oxidative stress, limiting its potential in biomedical and nutritional applications. This study aims to generate SS hydrolysate (SSH) through SS degradation using a keratinase-producing Bacillus altitudinis VK-1120. The contents of protein and amino acid of SSH were 13.93 ± 0.48 and 5.57 ± 0.06 mg/mL, respectively, after 96 h. Morphological and chemical changes before and after bacterial degradation were analysed. The SSH contained 16 amino acids, including eight essential amino acids, and demonstrated significant antioxidant activity, with a maximum efficacy of 4.16 ± 0.03 μg/mL for 2,2-diphenyl-1-picrylhydrazyl and 1319.53 ± 8.32 μg/mL for hydroxyl radical scavenging activity, equivalent to L-ascorbic acid. Furthermore, Fe2+- chelation and ferric-reducing antioxidant power were found to be 581.33 ± 3.33 μg/mL of EDTA-Na2 and 193.4 ± 5.83 μM of ferrous (II) sulphate equivalent, respectively. Cell viability and migration analysis showcased the proliferation of fibroblast cells with 50, 200, and 500 ng/mL of SSH at 24 h and a reduction in wound area with increasing SSH concentration. Therefore, SS could be utilized as a bioresource for producing both keratinase and antioxidant-rich hydrolysate for identifying biologically active molecules.