At present there is heightened demand for beverages that functionally improve human well-being. Wheat and wheat derivatives are excellent sources of nutrients and bioactive phytochemicals including phenolic compounds, dietary fiber, gamma amino butyric acid, and amino acids. Generally, wheat flour has been used extensively in baking and confectionery production, and wheat germ, and bran are byproducts that can be used to fortify some foods. However, limited attention has been paid to the use of wheat and wheat derivatives for beverage production. Our study therefore aimed to fill this gap by comprehensively exploring various aspects of wheat beverages. This review scrutinizes the use of wheat and wheat derivatives in beverage preparation, including processing methods, sensory perception, and biological properties, and also sheds light on the challenges and future perspectives of the wheat beverage industry. Our study offers valuable insight into the use of wheat for the design of functional, nonalcoholic plant-based beverages.