Recent efforts in using ionic liquids for the dissolution of wood constituents, including cellulose, concluded that 1-ethyl-3-methylimidazolium acetate ([emim][OAc]) is one of the most promising ionic liquids to dissolve cellulose. However, in order to make possible any industrial application, thermophysical properties of the pure liquid and of its mixtures with water are needed. In this study the influence of water on the thermophysical properties of [emim][OAc] is discussed. Density, speed of sound, viscosity, electrical conductivity, thermal conductivity, refractive index and infinite dilution diffusion coefficients were measured for mixtures of [emim][OAc] and water, in the temperature range 293.15–333.15 K, at 0.1 MPa, and full composition range. The rheological behaviour was also tested. The mixture was found to be completely miscible. Water free values for the properties of pure ionic liquid were extracted from mixture data, using new methodologies. Resultsshow that the mixture is highly structured, dominated by hydrogen bonding interactions between the water molecules and the ionic liquid acetate anions. The values of the properties establish a consistent and accurate data set for chemical plant cellulose dissolution and other future applications of these mixtures.