In this study, when manufacturing Yakgwa, 0, 25, or 50% of embryonic rice flour (ERF) was substituted for wheat flour (WF) to make the dough. After making Yakgwa by hot air frying (HF) or deep-fat frying (DF) methods, physicochemical characterization and acceptance tests were conducted. ERF had a higher water-binding capacity and a lower fat-binding capacity than WF (p<0.05). Yakgwa prepared by HF had lower crude fat contents, peroxide values, and expansion rates, but higher hardnesses, lightnesses, and rednesses (p<0.05) than that prepared by DF. Higher ERF substitution ratios reduced acid values and expansion rates and increased hardness (p<0.05). Acceptance testing showed 0% ERF Yakgwa prepared by HF had a significantly higher acceptance than Yakgwa prepared by DF. HF was found to have a positive effect on product acceptability. Yakgwa prepared with the DF method by substituting WF with ERF resulted in better flavor and overall acceptability than Yakgwa prepared with WF alone (p<0.05).