In order to study the effect of partially hydrolyzed guar gum (PHGG) on the baking characteristics of bread, PHGG was prepared by enzymatic hydrolysis method with guar gum (GG) as raw material. Based on the comparison of basic composition differences between PHGG and GG, the effects of PHGG dosage on the baking quality and storage characteristics of bread were studied by texture analyzer, low field nuclear magnetic resonance analyzer, differential scanning calorimeter and nine-point hobby score. The results of basic composition analysis showed that the viscosity and molecular weight of PHGG decreased significantly compared with GG, which were (118.80±0.62)mPa·s and 8.1kDa, respectively. The analysis of baking quality showed that the addition of PHGG had no significant effect on the specific volume of bread, and the baking loss rate of bread was significantly reduced from (14.08±0.77)% to (11.73±1.29)%. The color of bread was also improved. The results of storage characteristics of bread indicated that, PHGG significantly increased the water retention rate of bread from (77.48±0.43)% to (85.58±4.15)% during the 7d storage period. PHGG also improved the cohesiveness and resilience of bread. It also promoted the migration of water inside the bread, thereby increasing the stability of the internal structure of the bread, and had the effect of delaying the aging of the bread. In addition, the results of sensory evaluation showed that the sensory score of the bread in the PHGG group was higher than that of the control group. The baking quality, storage characteristics and sensory quality of bread could be significantly improved when the PHGG dosage was 2.5%-4.5%, which was expected to provide some reference for the application of PHGG in food processing.