5‐Hydroxydecanoate (5‐HD) inhibits ischaemic and pharmacological preconditioning of the heart. Since 5‐HD is thought to inhibit specifically the putative mitochondrial ATP‐sensitive K+ (KATP) channel, this channel has been inferred to be a mediator of preconditioning. However, it has recently been shown that 5‐HD is a substrate for acyl‐CoA synthetase, the mitochondrial enzyme which ‘activates’ fatty acids. Here, we tested whether activated 5‐HD, 5‐hydroxydecanoyl‐CoA (5‐HD‐CoA), is a substrate for medium‐chain acyl‐CoA dehydrogenase (MCAD), the committed step of the mitochondrial β‐oxidation pathway. Using a molecular model, we predicted that the hydroxyl group on the acyl tail of 5‐HD‐CoA would not sterically hinder the active site of MCAD. Indeed, we found that 5‐HD‐CoA was a substrate for purified human liver MCAD with a Km of 12.8 ± 0.6 μm and a kcat of 14.1 s−1. For comparison, with decanoyl‐CoA (Km∼3 μm) as substrate, kcat was 6.4 s−1. 5‐HD‐CoA was also a substrate for purified pig kidney MCAD. We next tested whether the reaction product, 5‐hydroxydecenoyl‐CoA (5‐HD‐enoyl‐CoA), was a substrate for enoyl‐CoA hydratase, the second enzyme of the β‐oxidation pathway. Similar to decenoyl‐CoA, purified 5‐HD‐enoyl‐CoA was also a substrate for the hydratase reaction. In conclusion, we have shown that 5‐HD is metabolised at least as far as the third enzyme of the β‐oxidation pathway. Our results open the possibility that β‐oxidation of 5‐HD or metabolic intermediates of 5‐HD may be responsible for the inhibitory effects of 5‐HD on preconditioning of the heart.