Fiber enrichment of foods and fat replacement are two effective ways in the creation of a healthy diet. This study investigated the effect of replacing shortening at 20% and 40% by weight with a β-glucan-rich oat bran derivative named Nutrim Oat Bran (OB), on some chemical and physical properties of shortened cakes. A significant increase in moisture content and a decrease in fat content were observed through this replacement. In comparison to the control, a significant increase in volume resulted in the 20% sample in contrast to a significant decrease in volume in the 40% sample. Texture profile analyses showed that shortening replacement in the 40% sample caused a significant increase in hardness and chewiness, but it did not show any significant effect on the springiness and cohesiveness of cakes. Results showed the 20% sample was a better alternative to the control.