Proteases are one of the most important hydrolytic enzymes produced by a wide range of microorganism such as bacteria, yeasts, molds and are also found in plant and in various animal tissue. Proteases have broad range of applications in various industries such as detergent, food, pharmaceutical, etc. and representative of most worldwide enzyme sales. The bacterial genus Bacillus is producing wide range of proteases enzyme with high yield and also contain remarkable properties, like high stability towards extreme pH, temperature, detergent, organic solvent and oxidizing compound. Hence, several strategies have been developed in bacteria for cost-effective production with optimizing the process. Moreover, there are many studies goings on to reduce the cost of submerge and solid-state fermentation process by use of low-cost substrate. Mutation and gene cloning process on Bacillus also has been led to production of homologous and heterologous recombinant proteases with respect to high yield, more active and stable, desired environmental condition. Moreover, bacterial proteases constitute approximately 60% of the total worldwide production of enzyme and it has been variety of industrial application, such as detergent formulation, pharmaceutical, protein processing, food processing, peptide synthesis, removal of necrotic material and extraction of silver. Moreover, there are many commercial proteases has been characterised and purify form various natural and modified Bacillus species and other organisms.