Rice bran (RB), a byproduct of rice milling industry and constitutes around 10% of the total weight of rough rice. It is primarily composed of aleurone, pericarp, subaleurone layer and germ. Rice bran is a rich source of vitamins, minerals, essential fatty acids, dietary fibers and other sterols. The main objective of this study is to describe the nutritional composition of rice bran that has been stabilized by either microwave or dry heat process which can be utilized as a functional food ingredient. The study also evaluated the influences of stabilization of rice bran in terms of free fatty acid and peroxide values. The results of this study suggested that dry heating and microwave heating were effective methods for stabilization of rice bran with lowering content of free fatty acids (FFA) and peroxide value (PV). These heating methods also provided higher contents of total phenolic compounds with increasing the antioxidant activities. However, it was suggested that microwave heating is not suitable to be used in small and medium scales in rural areas. But dry heating is a very efficient method for stabilization and could be applicable for small and medium scale operations in rural areas.