Lipoxygenase (LOX) activity is closely related to wheat processing and storage quality. In the present research, ten wheat cultivars were used to compare the effects of genotype, location, year, and their interactions on the LOX activity. Furthermore, 123 wheat cultivars were evaluated for LOX activity with 192 simple sequence repeat (SSR) markers and to identify elite alleles related to LOX activity. The results indicated that LOX activity was highly affected by genotype (variety) than that by the location. A total of 22 SSR molecular marker loci with a significant or very significant correlation with LOX activity were identified on performing association analysis. In 3 years, only one molecular marker locus associated with LOX activity was detected (WMC488); in 2 years, seven molecular marker loci were detected, while in only 1 year, the other 14 molecular marker loci were detected. A total of 7 and 6 marker loci significantly related to LOX activity accounting for 31.2% and 27.2%, respectively, were located in homologous groups 4 and 5, and group 7. This research provided the theoretical basis and the markers for molecular-assisted wheat breeding that facilitate the breeding process in the processing and storage quality of grains.