The content and solubility of collagen in the muscle tissue and cooked meat from three anatomical locations (loin, hind leg and shoulder) in carcasses of adult male European beavers and relationships of collagen fractions with proximate composition and shear force were studied. Shoulder muscle tissue contained the highest amount of intramuscular fat, collagen/protein ratio, total and insoluble collagen, and the lowest percentage of soluble collagen. The cooked meat from hind leg contained the lowest amount of total, soluble and insoluble collagen. The percentage of collagen fractions in cooked meat was comparable in all cuts (p > 0.05). The toughest meat was from the shoulder, followed by the hind leg, and the tenderest meat was from the loin (p < 0.01). Shear force of cooked meat was correlated positively with the amount of total collagen, insoluble collagen and its percentage in muscle tissue (0.597, 0.594 and 0.499, p < 0.01), as well as negatively with percentage of soluble collagen (−0.594, p < 0.001). No correlations between the shear force and the content of total collagen and its fractions in cooked meat were found. In conclusion, our results indicate that the amount of total collagen and its fractions in raw muscle tissue of beaver is a better tenderness predictor for cooked meat than their values in heat-treated meat.