In vitro digestates of spaghetti, made from durum or common wheat and dried at low or high temperature, were assessed for the occurrence of soluble sugars, gluten exorphins and phenolic acids. Digestates were also studied for coeliac toxicity, antioxidant properties, anti-glycation activity and capacity to inhibit amylolytic enzymes. Level of released sugars depended on the applied drying cycle. The exorphins C5 and A5 were found in all gastric or intestinal digestates, respectively. The fate of individual phenolic acids during cooking and digestion was not unidirectional, but the total content of phenolic acids increased as long as the digestion proceeded. Intestinal digestates presented the highest antioxidant capacity, while they kept coeliac toxicity. Gastric digestates showed potential inhibitory effects on α-amylase and α-glucosidase. These findings indicate that dried pasta, in addition to being a source of nutrients, delivers bioactive compounds and biological features being modulated by heat treatment and digestion process.