Abstract: The present invention provides a novel fat substitute composition, comprised primarily of a defatted and substantially nondenatured proteinaceous particulate material, that, in a preferred embodiment is derived from seed grains, and most preferably oats. In addition, a method of making such compositions and using the same to produce food products having a reduced caloric count, creamy texture, and suitable mouth-feel, is disclosed. Further, a method to vary the viscosity of the resulting food products is disclosed, through changing the ratio of starch to protein in the fat substitute.