This study identified the optimal enzymatic treatment for improving the foaming characteristics of oat globulin, and alkaline protease was found to be the most effective enzyme. The impact of alkaline protease on the foaming properties and structural changes in oat globulin was explored. The results show that the foaming capacity of oat globulin hydrolysates is negatively correlated with surface hydrophobicity and positively correlated with the degree of hydrolysis. The results of circular dichroism (CD) and size-exclusion chromatography (SEC) indicate that hydrolysis generated smaller, disordered peptides. Under equilibrium conditions at a 2% concentration, a reduction of 1.62 mN/m in surface tension and an increase of 3.82 μm in foam film thickness were observed. These peptides reduce surface tension between air and water, forming larger, thicker, and more stable foams. Compared to untreated oat globulin, the foaming capacity of hydrolyzed ones increased by 87.17%. Under comparable conditions, these findings demonstrate that limited hydrolyzed oat globulin exhibits potential as an effective plant-based foaming agent up to a degree of hydrolysis of 15.06%.