The Box-Behnken experimental design was used in the experiment, and a total of 17 groups of pelleting experiments were carried out. The results showed that with the increase of replacement ratio of wheat, the bulk density, tap density, water solubility index, protein dispersibility index, pasting time of the mash feed were increased significantly (P<0.05), the angle of repose, water absorption index, peak-viscosity, through-viscosity and final viscosity were decreased significantly (P<0.05), and the pelleting rate was increased, power consumption per ton was decreased and the pellet durability index was increased first and then decreased. With the increase of conditioning temperature, the pelleting rate was firstly increased and then decreased. When the replacement ratio were 0 and 50%, the power consumption per ton was decreased, and when the replacement ratio was 100%, the power consumption per ton was firstly decreased and then increased and the pellet durability index was increased. With the extension of conditioning time, the power consumption per ton was increased, and the changes of pelleting rate and pellet durability index were relatively small. The results of variance analysis showed that the primary and secondary order of factors affecting the pelleting characteristics of pellet feed was replacement ratio, conditioning temperature, and conditioning time. It can be seen that the use of wheat replacing of corn can significantly improve the quality of pellet feed and reduce the power consumption per ton.