SummaryA significant volume of gluten production wastewater, containing arabinoxylan, is generated during wheat processing, presenting an underutilised resource. In this study, water‐extractable arabinoxylan (WEAX) was obtained from this wastewater through water extraction and alcohol precipitation, followed by purification, and its chemical and rheological properties were subsequently investigated. The analysis revealed a mean molecular weight of 4.57 × 104 Da for WEAX, with arabinose (38.08%) and xylose (43.77%) as the predominant monosaccharides. Notably, the sample exhibited characteristic structural properties of arabinoxylan, as confirmed by FT‐IR spectra. Scanning electron microscopy further revealed a heterogeneous solid morphology, comprising filamentous flake and spherical structures. Moreover, WEAX demonstrated favourable thermal stability and revealed shear‐thinning behaviour, as well as weak gelation, as evidenced by thermogravimetry, differential scanning calorimetry, and rheological analysis. This study not only presents a novel approach for the resource treatment of wheat gluten production wastewater but also contributes new insights into the characterisation of arabinoxylan.