This study prepared six different ice creams to investigate the effect of yeast protein (YP) on their sensory, rheological, thermal properties and fat destabilisation. Results indicated that YP could improve sensory quality, flow and viscoelastic properties. The thermal property was also positively influenced by YP with a significant decrease in frozen water percentage and an increase in glass transition temperature ( P < 0.05). Additionally, the particle size and confocal laser scanning microscopy results illustrated that YP could moderately promote the fat aggregate percentage and size. Overall, YP could serve as a fat replacer to produce reduced‐fat ice cream.