In order to make better use of walnut glutenin and increase its functional properties, the microstructure of walnut glutenin and proteins modified by enzyme method were analyzed by means of enzymatic modification, fluorescence spectrum, ultraviolet spectrum, circular dichroism and other instruments. The modification mechanism was observed and analyzed from the aspects of protein intermolecular, protein intramolecular and polypeptide. The solubility of enzymatic modified proteins was increased by 133.01% and 96.75%, and the water holding capacity was increased by 23.19% and 22.25%. Moreover, the oil retention was decreased by 27.03% and 29.11%, and the emulsifying property was increased by 31.81% and 41.55% respectively. The foaming properties were improved by 28.21% after modification with transglutaminase (TG) enzyme.