Global food production needs to significantly increase to feed 9.7 billion people by 2050. However, annual wheat yield gains have not met the required 2.3% increase and are currently leveling off at around 1%. Hybrid wheat is a promising approach to break the yield stagnation since it has potential to offer higher yield due to heterosis, yield stability and higher tolerance to biotic and abiotic stresses. To test this hypothesis, elite winter wheat lines from the wheat breeding programs of the University of Nebraska-Lincoln and Texas A&M University were crossed in a 25 x 25 full diallel design; using a chemical hybridizing agent to produce experimental hybrids in 2015 and 2016. These hybrids were planted in a modified augmented design with commercial checks and parents at McGregor, TX in 2016 (n = 612); Greenville and Bushland, TX in 2017 (n = 470) to evaluate for yield heterosis and combining ability. The grain yields of these trials were spatially corrected using experimental design and spatial correction models in ASReml-R for downstream analysis. Commercial heterosis which is defined as hybrid performance compared to the best check, ranged between -78.3 to 20.4% in 2016 and -11.3% to 33.7% in 2017. High-parent heterosis ranged from -74.4% to 54.3% in 2016 and -24.3% to 29.4% in 2017. The yield of the best performing hybrid exceeded the yield of the best commercial check in 2016 by 0.6 ton ha-1 whereas the best performing hybrid in 2017 yielded 1.6 ton ha-1 higher than the best check. General combining ability (GCA) variance was significantly higher than zero whereas specific combining ability (SCA) variance was not. This indicates that most of the heterosis is due to additive rather than dominance effect. These results highlight the possibility of exploiting GCA for higher yield whereas also underscore the need for development of heterotic pools to maximize SCA and dominance effects of heterosis.