With grain processing technology developing fast, lots of broken rice have been wasted every year. Reconstituted rice, as a rice byproduct, has higher nutrient value and rich flavor than natural rice. This paper aims to prepare a kind of reconstituted rice in broken rice, oats, soybeans, and potato starch with good taste and nutrients by extrusion puffing technology. The combined effect of oatmeal powder (20%), soybean flour (10%), potato starch (20%), squeeze temperature (80 °C), material moisture (31%), and screw speed (160 rpm) was used to formulate the product. The results showed that the absorbent rate, volume expansion rate, and blue iodine value of the reconstituted rice were significantly lower than native rice, while the solid dissolved material of rice soup was higher than that of native rice (p < 0.05). Increased hardness and chewiness and decreased elasticity and adhesion were obtained by texture determination. The paste properties of reconstituted rice were more lacking than that of natural rice. With respect to rheological properties, reconstituted rice was more viscous, while natural rice was more elastic. With respect to thermodynamics, the starting, end, and peak temperatures of reconstituted rice were higher than natural rice. Thus, reconstituted rice could improve the utilization of broken rice, enhance the deep processing of potato starch, drive the consumption of grains, and improve the value of products attached in the future.