The nutritional components of Spirulina residue were determined and evaluated. The insoluble dietary fiber was prepared by alkaline acid treatment from algae residue. The swelling capacity, water holding capacity and grease holding capacity were determined. Insoluble dietary fiber was obtained from Spirulina residue after extraction of phycobiliprotein by alkali acid treatment. Its swelling capacity, water retention capacity and oil retention capacity were measured. The adsorption capacity of dietary fiber for sodium cholate and NO2– was studied. The adsorption capacity of sodium cholic acid and NO2- by dietary fiber was researched. The results indicated that algae residue was rich in nutrients, mainly including protein, carbohydrate and water. The content of phosphorus, magnesium and calcium in minerals was the highest. Algae residue was rich in essential amino acids (lysine, valine, leucine and isoleucine) and non essential amino acids (arginine, glutamine and glutamate). The insoluble dietary fiber had a certain water holding capacity, grease holding capacity and swelling capacity, and the adsorption capacity of sodium cholic acid was relatively obvious. In the simulated human gastric fluid environment of pH=2, it had better adsorption on NO2–. This study results will provide a basis for the high value utilization of Spirulina residue.