High moisture extrusion (HME) of meat analogues is often performed with raw materials containing multiple components, e.g., blends of different protein-rich raw materials. For instance, blends of soy protein isolate (SPI) and another component, such as wheat gluten, are used particularly frequently. The positive effect of blending on product texture is well known but not yet well understood. Therefore, this work targets investigating the influence of blending in HME at a mechanistic level. For this, SPI and a model protein, whey protein concentrate (WPC), were blended at three different ratios (100:0, 85:15, 70:30) and extruded at typical HME conditions (55% water content, 115/125/133 °C material temperature). Process conditions, rheological properties, morphology development, product structure and product texture were analysed. With increasing WPC percentage, the anisotropic structures became more pronounced and the anisotropy index (