Five different ultrafine milled flours (UMFs) were prepared from Tartary buckwheat via airflow ultrafine-grinding at different grinding pressures. The airflow ultrafine-grinding resulted in marked differences in particle size (from 100 to 10 μm). The UMFs were all brighter in appearance (higher L*) than Tartary buckwheat common flour (TBCF). Illustrated by the example of 70 °C, the UMFs were also found to have a greater water holding capacity (from 4.42 g/g to 5.24 g/g), water solubility (from 12.57% to 14.10%), and water solubility index (from 5.11% to 6.10%). Moreover, as the particle sizes reduced, the moisture content decreased (from 10.05 g/100 g DW to 7.66 g/100 g DW), as did the total starch content (from 68.88 g/100 g DW to 58.24 g/100 g DW) and the protein content (from 13.16% to 12.04%). However, the grinding process was also found to have negative effects on the mineral content of the Tartary buckwheat. Additionally, several substantial variations were found in their hydration properties along with grinding pressure changes in the differently ground UMFs. Consequently, fine Tartary buckwheat powders of a bright yellow color, with superior food processing properties, were prepared in this study by airflow ultrafine-grinding.