We evaluated the lotus rhizome as a potential ruminant feed by investigating its compositional properties, in situ degradation profile and in vitro fermentation characteristics with ruminal microbes, in comparison with cereal grains (corn, barley and wheat). The antioxidative activities in the lotus rhizome were also estimated. The soluble fraction of dry matter in lotus tuber was >70%, which was higher than those in the grains. The insoluble fraction in lotus tuber was not degraded by ruminal microbes in accord with a first‐order reaction. In an in vitro experiment, lotus tuber showed lower fermentation at 8 hr compared to the grains, but exhibited higher productions of gas and VFA at 48 hr along with a lower lactate and higher pH. The lower value of final lactate production in lotus tuber, indicating the metabolic capacity for lactate utilization retained, suggests a lower risk of ruminal acidosis compared to grains. Lotus rhizome had high antioxidant activities, with the foliar bud showing the strongest ferric reducing antioxidant power, followed in order by the apical bud, node, residual tuber, edible tuber, and nodal root. For ruminants, the lotus rhizome could thus be not only an energy feed but also the source of natural antioxidants.