Buckwheat is a valuable crop that contains various nutrients and functional components. Tartary buckwheat peptide is a protease-hydrolyzed protein with a wide range of physiological functions. Tartary buckwheat peptide produced through microbial fermentation can decrease the enzymatic digestion of buckwheat protein, which contributes to the bitter taste, and improve both the flavor and texture of buckwheat peptide products. In this study, microbial fermentation using probiotics was employed to prepare Tartary buckwheat peptides, and the preparation process was optimized. Based on single-factor experiments, the polypeptide content in the fermentation solution initially increased and then decreased with varying water content, inoculum concentration, glucose addition, fermentation temperature, fermentation time, and potassium dihydrogen phosphate addition. According to the response surface methodology, the maximum peptide content was achieved under fermentation conditions of 60.0% moisture content, 12.87% inoculum ratio, 2.0% glucose, and a fermentation temperature of 30.0 °C, with an actual value of (22.18 ± 1.02) mg/mL. The results show that fermentation with Lactiplantibacillus plantarum produces higher peptide levels and is safer than other microbial fermentation methods.