The aim of this study was to determine the effect of molasses and lactic acid bacteria (LAB) on the chemical composition, silage fermentation characteristics, and in vitro ruminal fermentation parameters of an ensiled potato-wheat straw mixture in a completely randomized design with 4 replicates. Wheat straw was harvested at full maturity and potato tuber when the leaves turned yellowish. The potato-wheat straw (57:43 ratio, DM basis) mixture was treated with molasses, LAB, or a combination. Lalsil Fresh LB (Lallemand, France; containing NCIMB 40788) or Lalsil MS01 (Lallemand, France; containing MA18/5U and MA126/4U) were each applied at a rate of 3 × 10 cfu/g of fresh material. Treatments were mixed potato-wheat straw silage (PWSS) without additive, PWSS inoculated with Lalsil Fresh LB, PWSS inoculated with Lalsil MS01, PWSS + 5% molasses, PWSS inoculated with Lalsil Fresh LB + 5% molasses, PWSS inoculated with Lalsil MS01 + 5% molasses, and corn silage (CS). The compaction densities of PWSS treatments and CS were approximately 850 and 980 kg wet matter/m, respectively. After anaerobic storage for 90 d, chemical composition, silage fermentation characteristics, in vitro gas production (GP), estimated OM disappearance (OMD), ammonia-N, VFA, microbial CP (MCP) production, and cellulolytic bacteria count were determined. Compared to CS, PWSS had greater ( < 0.001) values of DM, ADL, water-soluble carbohydrates, pH, and ammonia-N but lower ( < 0.05) values of CP, ash free-NDF (NDFom), ash, nitrate, and lactic, acetic, propionic, and butyric acids concentrations. When PWSS was treated with molasses, LAB, or both, the contents of CP and lactic and acetic acids increased, whereas NDFom, ammonia-N, and butyric acid decreased ( < 0.05). Based on in vitro ruminal experiments, PWSS had greater ( < 0.05) values of GP, OMD, and MCP but lower ( < 0.05) VFA and acetic acid compared to CS. With adding molasses alone or in combination with LAB inoculants to PWSS, the values of GP, OMD, MCP, cellulolytic bacteria population, VFA, and propionic acid increased ( < 0.05), whereas the acetic acid to propionic acid ratio decreased ( < 0.05). Overall, ensiling potato with wheat straw at a 57:43 ratio DM basis was possible; nevertheless, the fermentation quality of PWSS was lesser than that of CS. However, addition of molasses and molasses + LAB improved fermentation quality of PWSS.