This study was carried out to establish the changes of physicochemical properties of Taiwan’s water caltrop (Trapa Quadrispinosa Roxb.) starch at various stages of maturity during growth. Investigations showed that the dry matter and starch contents of water caltrop increased from 9.7% to 25.61% and from 49.4% to 79.4% (d.b.), respectively, as growth progressed (from 14th to 42nd day after fruit development). The shape of the starch granules was smooth, oval and poly-angular during the growth period. The granule size of starch increased with increase of physiological age, ranging from 19.4 μm to 32.2 μm. The X-ray diffraction patterns could be classified as a typical A-type crystalline structure. Swelling power and solubility of water caltrop starch increased with increases of growth time. Starches obtained from water caltrop at the early stage exhibited a lower gelatinization temperature (To, Tp, Tc) and gelatinization enthalpy (ΔH) than did the late stage of maturity. The rapid viscosity analyzer (RVA) parameters suggested that water caltrop starch paste had a low breakdown, and appeared to be thermo-stable, at the early harvest time. The pasting temperature, peak viscosity, final viscosity and setback value of water caltrop starch increased as growth progressed. Different starch granular size and amylose content could be the major factors influencing starch physicochemical properties during maturity.