Sixteen samples of Grana Padano cheese aged from 2 to 33 months were analyzed by HPLC-MS. The extraction process involved the use of diluted HCl, thus avoiding a strong deproteinizing agent (TCA), and allowing to maintain in solution also very lipophilic peptides. The molecular mass of the most abundant peptides were determined by electrospray ionization (ESI) mass spectrometry. A new method was developed based on the small fragmentation peaks arising from in-source fragmentation and from software analysis of the known casein sequences, which in many cases allowed the direct on-line identification of the oligopeptide sequences. Several new peptides never previously reported were identified, some of which containing bioactive sequences, consistently with what was described in the literature. Semiquantification of peptides at the different stages of aging was also performed by using a suitable internal standard, providing new insights into the evolution of the oligopeptide fraction during aging.