Abstract: This study investigates the synergistic enhancement effect of previously screened yeast strains combined with cellulase on the nutritional quality of wheat bran, and aims to identify the optimal fermentation method. Two yeast strains, 8532-RW and 8532-SY, were isolated and activated from fruit wine. An aqueous solution of activated cellulase was then introduced and allowed to incubate for 18 hours. Subsequently, solid-state fermentation was performed on wheat bran using the respective yeast strains in conjunction with cellulase. The results showed that fermentation with yeast strains and cellulase significantly reduced the pH of wheat bran, increased the contents of nutritional components such as soluble pentosans, total phenols, and flavonoids, and decreased the phytic acid content. In addition, fermentation improved the hydration properties and antioxidant capacity of wheat bran, among which the SY enzyme group and the RW+SY enzyme group exhibited particularly outstanding antioxidant performance. The coupled fermentation of yeast strains and cellulase substantially enhances the nutritional and functional attributes of wheat bran, transforming it from a low-value by-product into a high-value-added raw material for functional foods. This approach optimizes the wheat processing industry chain and meets consumer’ demand for nutritious and healthy food products. The coupled fermentation of yeast strains (8532-RW and 8532-SY) with cellulase effectively degrades anti-nutritional factors, enriches bioactive compounds, and improves the processing characteristics of wheat bran. The process significantly promotes the high-value utilization of wheat bran, reduces agricultural waste, and provides a practical technical framework for the deep processing and value enhancement of agricultural by-products. It also lays a theoretical foundation for the development of wheat bran-based functional foods.