The preparation and properties of a composite fat substitute based on rice bran were studied. The result showed that the optimal preparation technology were: ratio of water to material 15∶1, the time of supersonic with 400 W was 20 min, stir extraction at 50 ℃ for 30min, the additive amount of high temperature amylase 4.8 U/g, and pasting rice bran starch at 95 ℃ for 30 min, the yield could reach up to 35% after spray drying. Moreover, the properties of three kinds of fat substitutes with different DE (dextrose equivalent) were studied. The sample with DE of 2.45 possessed better properties than the other two in hydroscopic property, water/oil retention, emulsifiability and foamability, could be used as perfect fat substitute and provided with assuring potential for applications.