A process of aqueous enzymatic extraction of wheat germ was carried out by a multi-enzyme preparation consisting of cellulase, pentosanase, neutrase and fungal amylase (CPNF, 2:1:2:1 w/w/w/w). Hydro-thermal heating (at 112°C for 60 min) was more effective than oven-drying regarding emulsified oil yield. Wheat germ was ground with a rate of 10,000 rpm for 90 s. The adding level (w/w) of multienzyme preparation of CPNF was 1.6%. Response surface methodology was used to obtain the desired data in the process optimization. The optimal set of variables was water to wheat germ ratio (v/wt, mL/g) of 3.46, pH of 5.24, temperature of 48.49°C and time of 6 h. The emulsified oil yield was 86.74% at the optimal levels of the tested factors. Compared with organic solvent extracted oil, the content of free fatty acid of AEE extracted oil was higher and the color was slightly darker, while the peroxide value was lower and the oxidative stability was higher owing to high content of a-tocopherol. This technique for recovering oil from fresh wheat germ with enzymes is a significant improvement in both oil yield and quality over the traditional organic solvent process.