Functional foods and nutraceuticals were unknown to humans a few centuries back. Many cereals, grains, pulses, and other edible substances, which can form the staple diet of several human beings, may consist of some potent composition that may have the ability to treat or prevent any disease. Wheat bran (WB) and oats, consumed by most individuals, have both functional food and nutraceutical values. Healthcare professionals majorly recommend the use of pharmaceutical medications during the treatment of any disease, but prevention of those diseases is reported to be achieved by these functional foods. Most food products derived from oats and WB have been replacing animal products alleged to cause Terrence. Nutraceutical value is also established for these products in preventing and treating major lifestyle diseases, including cardiovascular diseases (CVDs), cancer, diabetes, gut dysbiosis, and many more. Although the nutraceutical effect is only observed in several cases rather than an established pathway or mechanism of their respective action, these gaps are bridged through research. This chapter reports all the health, food benefits, and nutraceutical potential of both WB and oats.