Formation of protein aggregates in the aging eye lens has been shown to correlate with progressive accumulation of specific low molecular weight (LMW) peptides derived from crystallins. Prominent among the LMW fragments is αA66-80, a peptide derived from αA-crystallin and present in increased concentrations in the water-insoluble (WIS) nuclear fractions of the aging lens. The αA66-80 peptide has amyloid-like properties and preferentially insolubilizes α-crystallin from soluble lens fractions. However, the specific interactions and mechanisms by which the peptide induces α-crystallin aggregation have not been delineated. To gain insights into the mechanisms of peptide-induced aggregation, we investigated the peptide interactions with α-crystallin by various biochemical approaches. The peptide diminishes α-crystallin chaperone ability and drastically promotes α-crystallin aggregation by formation of insoluble peptide-protein complexes through transient intermediates. Bis-ANS studies suggest that the peptide induces changes in hydrophobicity of α-crystallin that could trigger the formation and growth of aggregates. The peptide-α-crystallin aggregates were found to be resistant to dissociation by high ionic strength, whereas guanidium hydrochloride and urea were effective dissociating agents. We conclude that the αA66-80 peptide forms a hydrophobically driven, stable complex with α-crystallin and reduces its solubility. Using isotope-labeled chemical crosslinking and mass spectrometry, we show that the peptide binds to multiple sites, including the chaperone site, C-terminal extension and subunit interaction sites in αB-crystallin, which may explain the anti-chaperone property of the peptide and the consequential age-related accumulation of aggregated proteins. Thus, the α-crystallin-derived peptide could play a role in the pathogenesis of cataract formation in the aging lens.