Natural antioxidants, specifically phenolic compounds and bioactive peptides obtained through dietary sources, have gained interest for their potential to modulate cellular oxidative stress. In this study, arabinoxylan and proteins from two types of wheat bran were extracted and subjected to enzymatic hydrolysis to obtain xylo-oligosaccharides (XOS) and protein hydrolysates, respectively. Then, antioxidant capacities of XOS and protein hydrolysates were characterized, and their inhibitory effects were evaluated against collagenase, elastase, and hyaluronidase. The results demonstrated that the XOS and protein hydrolysates, obtained after proper extraction and enzymatic hydrolysis, exhibited promising antioxidant capacity and pronounced inhibition of the aforementioned enzymes. The total phenolic contents of XOS extracted from hard and soft wheat bran were determined to be 39.63 and 32.06 mg GAE/g, respectively. The XOS derived from hard wheat bran showed the highest hyaluronidase inhibition activity, reaching 49.9% at 0.5 mg/mL concentration among samples. The wheat bran extracts possess great potential to be used in the production of functional ingredients aimed at antioxidant and cosmetic application purposes.