Compounds and methods for refolding of proteins in an aqueous solution. In particular, biocompatible multiblock copolymer surfactants such as poloxamers, meroxapols, poloxamines, or polyols are used to catalyze proper refolding without changing the protein composition, and restore the protein to its native conformation and native biological function. The methods can be practiced both in vivo and in vitro. The biocompatible multiblock copolymer surfactants can be used for renaturation of recombinantly expressed proteins, and for renaturation of proteins that are unfolded due to heat, irradiation, mechanical shearing, electrical shock, frostbite, chemical stress, and other abiotic or biotic stresses.