Continuous viscosity of honey–water mixture was measured in a rotating viscometer at nominal water content weight from 0% to 60% over a range of temperatures (30–70 °C). The thermal properties of honey–water mixtures have been investigated by differential scanning calorimetry (DSC). The melt fragility during the heating process ( M H ) and cooling process ( M C ) has been calculated. The results show that viscosity and flow activation energy decrease as the water content increases; M H as a glass-forming ability ( GFA) indicator is well satisfied in single honey–water system but not satisfied in the whole system. Moreover, a new parameter B, defined as B = M C M H , has been proposed, which can distinguish two kinds of honey with different water contents.