Canna edulis Ker by-product was recycled and utilized after starch extraction. The chemical composition, physical properties and antioxidant activity of the by-product were investigated. The by-product was mainly composed of dietary fiber (54.84% measured by AOAC method), and the insoluble dietary fiber constituted the major fraction. Then, the chemical composition of dietary fiber was tested using modified AOAC and Englyst methods. The results showed that dietary fiber was comprised of cellulose, hemicelluloses (including xyloglucans, arabinoxylans and glucuronoxylans), pectin and lignin. Moreover, the by-product contained relatively high content of phenolic compounds and exhibited a moderate antioxidant activity. In addition, the by-product showed both high water-holding capacity (12.5 mL/g) and oil-holding capacity (14 mL/g), and its suspension exhibited controllable viscosity. Therefore, the by-product from C. edulis is not only a source of dietary fiber but also a functional ingredient for food industry.