This study investigated the effects of adding different concentrations of TP (tremella polysaccharide) on the water distribution, rheological, thermal, microstructure, and retrogradation properties of WS (wheat starch) gels. The results showed that the starch aging increased during storage, and the addition of TP reduced the rate of change of the elastic modulus of the starch gel and delayed the short-term aging of WS. In the same storage period, the hardness value of the gel decreased and the texture became softer with the increase in the mass fraction of TP. TP increased the T₀ (starting temperature) of the system and decreased the enthalpy of retrogradation (ΔH_r). No new groups were formed after the retrogradation of the compound system, the hydrogen bonding force increased with the increase in polysaccharide, and the relative crystallinity and the degree of ordering of the system decreased. The addition of TP increased the content of bound water and immobile water, decreased the content of free water, and increased the gel water-holding capacity, indicating that it could effectively inhibit the long-term retrogradation of WS. The findings provide new theoretical insights for the production of starch-based foods.