Over the last three decades substantial attention has been given to the role of dietary fiber in health and disease, in particular diabetes, cardiovascular disease, intestinal health, and some types of cancer. As a result the food industry started to add back fiber to refined foods and develop fiber rich foods. Scientists suggested that whole grain foods are superior to foods enriched with fibers obtained/synthesized using enzyme treatment, and thermal or chemical processing because the content of bioactive components and micronutrients in whole grain is more abundant. This triggered interest in how to isolate the micronutrient rich aleurone fiber fraction from wheat. Aleurone is a single cell layer at the inner site of the bran. It contains most of the minerals, vitamins, phenolic antioxidants, and lignans of the wheat grain. Novel milling and dry-fractionation techniques have recently allowed for full-scale separation of aleurone cells from the other layers of wheat bran, yielding a fiber rich concentrate which potentially contains many of the “whole grain kernel bioactives,” which recently have been used in a variety of studies. The present review highlights available data on aleurone isolation, composition, intestinal physiology, and its metabolism and potential health benefits as well as its use in food.