The present investigation was carried out to study the physiochemical properties and proximate composition of wheat and dried water chestnut composite flour. Water chestnut fruit being a rich source of starch with no gluten, its flour can be used to replace wheat flour for the production of gluten free products. Four types of composite flours were prepared using wheat and water chestnut in ratios; 80:20, 60:40, 40:60 and 20:80 (type I, type II, type III and type IV, respectively). Type I flour had significantly higher bulk density, water absorption capacity, swelling capacity as compared to other types of composite flours. Overall it was noticed that in physicochemical properties of composite flours, as the level of water chestnut flour increased, the values for these properties decreased. Among all the composite flours type I composite flour had the highest crude protein (9.4%),crude fat (3.63%) and crude fibre content (1.93%) whereas type IV composite flour had the highest ash (2.50%) and total carbohydrates content (78.00%). It found that moisture, ash and total carbohydrates in the composite flours significantly increased with the increase in the level of water chestnut flour whereas crude protein, crude fat and crude fibre were decreased significantly.