Lentil fermentation has a promising potential as a strategy for development of multifunctional ingredients targeting metabolic syndrome (MetS). Response surface methodology was applied to optimize lentil fermentation and study its effects on generation of peptides, soluble phenolics and bioactivities. Fermentation using Lactobacillus plantarum and Savinase® 16 L was carried out at different pH (6.5–8.5) and times (5.5–30 h). Analysis of variance was performed to evaluate linear, quadratic and interaction effects between fermentation parameters. pH positively affected peptides, soluble phenolic compounds and antioxidant activity whereas a negative impact on lipase inhibitory activity was observed (p <.0001). Time showed positive effect on proteolysis and negatively affected angiotensin I-converting enzyme inhibitory activity of fermented lentil (p <.0001). Multivariate optimization led to high levels of peptides, soluble phenolics and bioactivity of fermented lentil at pH 8.5 and 11.6 h. In conclusion, this study might contribute to the development of functional ingredients from lentil for MetS management.