A method of preparing an oat protein and fiber product. A base composition is prepared that includes an oat material. The base composition and water are mixed to form a slurry. At least one enzyme is mixed into the slurry. The at least one enzyme facilitates sugar formation and thinning of the slurry. The slurry is cooked to convert the slurry into a first intermediate product having a dextrose equivalent (DE) of between about 20 and 90. The first intermediate product is diluted with water to form a second intermediate product. A decanting centrifuge solids slurry is recovered from the second intermediate product by passing the second intermediate product through a decanting centrifuge. The decanting centrifuge solids slurry is heated. A clarifying centrifuge solids slurry is recovered from the heated decanting centrifuge solids using a clarifying centrifuge. The clarifying centrifuge solids slurry is dried to form a dried product. The dried product has a protein concentration of between about 30 weight percent and about 90 weight percent and a total dietary fiber concentration of less than about 5 weight percent.
