Three kinds of peptides preparations, Phe-Ala (FA), Phe-Arg (FR), Phe-Try (FY), were formulated and prepared in our study. The Multi Probe Adapter System is used to evaluate the whitening, moisturizing and anti-inflammatory activity of peptide treatment. The viscosity value of self-made emulsion is 19680 centipoise, as a low viscosity emulsion formulations. The whitening and moisturizing efficacy was evaluated by Mexameter® and Corneometer®, Measurements were performed before and after 1, 2 and 24 hours treatment. FY lotion showed the best whitening effect. The differences between the baseline area and FY emulsion treated area is significant (p <0.001). FA emulsion showed the best long-term moisture retention (p <0.001). For the evaluation of the anti-inflammatory activity of peptide treatment, the skin erythema levels, moisture content and transepidermal water loss (TEWL) were measured before and after 30% SDS stimulation. The results showed that FY emulsion possess balanced overall performance, FR emulsion could relief erythema response well, while FA emulsion was only possess hydration ability. Overall, FY is the most valuable multi-function peptide ingredient. As the different characteristics of dipeptides, indicating the key factor of amino acid sequence.