Objective To investigate the application of high internal phase emulsions (HIPEs) stabilized by wheat bran water extract as a butter substitute in cakes.Methods Cakes were prepared by substituting butter with HIPEs stabilized by wheat bran water extract at different ratios, with a pure soybean oil group used as the control. The viscosity, relative density, and microstructure of the cake batter were systematically measured, and the textural properties, moisture distribution, color, X-ray diffraction (XRD) patterns, and flavor profiles of the cakes were comprehensively analyzed.Results With increasing substitution ratios of HIPEs, the a^* value of the cakes increased while the b^* value decreased. The cake volume decreased, but the pore structure became more uniform. Hardness increased from 2.72 N to 4.54 N, and moisture content increased from 11.92% to 17.53%, accompanied by an increase in the proportion of weakly bound water. XRD analysis indicated that starch recrystallization was inhibited. Electronic nose and electronic tongue analyses revealed no significant change in flavor profile.Conclusion HIPEs stabilized by wheat bran water extract can effectively replace butter, improving the water-holding capacity of cakes and delaying staling, while providing both nutritional and functional advantages, showing good prospects for baking applications.