The bran fraction of wheat grain is known to contain significant quantities of bioactive components. This study evaluated the potential of solid-state yeast fermentation to improve the health beneficial properties of wheat bran, including extractable antioxidant properties, protein contents, and soluble and insoluble fiber compositions. Three commercial food grade yeast preparations were evaluated in the study along with the effects of yeast dose, treatment time, and their interaction with the beneficial components. Solid-state yeast treatments were able to significantly increase releasable antioxidant properties ranging from 28 to 65, from 0 to 20, from 13 to 19, from 0 to 25, from 50 to 100, and from 3 to 333% for scavenging capacities against peroxyl (ORAC), ABTS cation, DPPH and hydroxyl radicals, total phenolic contents (TPC), and phenolic acids, respectively. Yeast treatment increased protein content 11-12% but did not significantly alter the fiber composition of wheat bran. Effects of solid-state yeast treatment on both ORAC and TPC of wheat bran were altered by yeast dose, treatment time, and their interaction. Results suggest that solid-state yeast treatment may be a commercially viable postharvest procedure for improving the health beneficial properties of wheat bran and other wheat-based food ingredients.