The aim of this study was to evaluate the effect of adding protease enzyme to low protein corn-soybean meal broiler diets to reduce feeding cost and improve the quality of meat. Two hundred and forty 1-d old unsexed Arbor Acres broiler chicks were distributed to six treatments (2*3 factorial design) of 4 replicates each. Two levels of protease activity (without and with 300 000 U/kg of the diet), and three levels of dietary crude protein were examined (Standard, STD; less 10% or less 15% from STD protein recommendation of each feeding phase, L10 and L15, respectively). The dietary protein levels were 23, 20.7and 19.5% at the starter phase; 21, 18.9 and 17.8% at the grower phase; and 19, 17.1 and 16.1% at the finisher phase. Diets were formulated to save the strain requirements of all other nutrients. All chicks were housed in open system broiler house and received the same managerial conditions and veterinary program during experimental period (1-40 d of age). Parameters of growth performance, carcass characteristics, physical and chemical evaluation of broiler meat were carried out and feeding cost was calculated. The recorded results showed that using protease improved final body weight (4.1%) and feed conversion ratio (6.1%) and reduced skin% of drum stick significantly (P<0.05). Decreasing protein of diets to (L15) increased consumed feed, drip loss of thigh, and back quarter weight (thigh and drumstick). Also, skin and pH of breast and concentrations of low density lipoprotein and malondialdhyde (MDA) in broiler meat were depressed significantly (p<0.0001). Among all treatments results showed that adding protease to L10 diets recorded the same marketing weight (2015 g), made broiler meat healthier (MDA decreased by 36%), and depressed the feeding cost/kg of life body weight by 3.94% relative to value calculated for STD group. Generally it could be concluded that adding 300,000 U protease enzyme/kg to low protein broiler diets could help producers to achieve acceptable marketing weight, get better meat quality, and reduce feeding cost according to Egyptian prices of feed ingredients.