In wheat cultivation areas of Iran, post anthesis water stress is the main factors that declined grain yield production. Hence, in order to evaluate the effect of post anthesis water stress on formation of grain, physiological changes and gas exchange variables of bread wheat cultivars (Triticum aestivum L.), this study was conduct in research farm of Campus of Agriculture and Natural Resources, Razi university, Kermanshah, Iran at 2013-14 crop year. In experiment was used a split plot experiment based on randomized complete block design with three replications. In this experiment, main plot was water regimes in two levels (post anthesis water stress and control) and sub plot was 10 bred wheat cultivars (Zare, Parsi, Sivand, Pishtaz, Bahar, Azar2, Bezostaya, Gaspard, Sirvan and Marvdasht). The results showed that, post anthesis water stress significantly decreased grain yield, number of grains per spike, thousand grain weight, hectoliter weight and biomass production (5.46, 10.25, 17.76, 1.1 and 3.29%, respectively) but had no significant effect on no of spike per m2. In post anthesis water stress, Parsi and Bezostaya cultivars had the highest and lowest grain yield production (11110 and 6080 kg.ha-1, respectively). Also, post anthesis water stress significantly decreased photosynthetic rate, chlorophyll a, chlorophyll b, total chlorophyll and water-soluble protein by 16.67, 14.03, 24.94 and 12.10% respectively, but significantly increased leaf surface temperature by 12.58%. Bezostaya and Marvdasht cultivars had the highest and lowest photosynthesis rate, respectively, as well as Gaspard and Bahar cultivars had the highest and Marvdasht cultivar had the least soluble protein content. In general, Sivand and Parsi cultivars were identified as high yielding cultivars and Zare, Marvdasht, Sirvan and Bahar cultivars as low yield cultivars.