DNA-segment copy number variations (DSCNVs), such as deletions and duplications, are important sources of genomic structural variation. However, the types and sizes of DSCNVs, as well as their genome-wide distribution and potential functions, are poorly understood in wheat. Here, we identified 198 985 DSCNVs by investigating 491 genomes of common wheat and found that they account for 20% of the entire genome. Interestingly, approximately 38% of genes are linked to DSCNVs. The number of DSCNVs within each accession ranges from 47 366 to 96 342, and their total sizes vary from 421.3 to 1267.9 Mb. We found that 957 and 1304 DSCNVs have been favored by breeders in China and the United States, respectively. By conducting DSCNV-based genome-wide association studies for the principal components of plant developmental and yield-component traits, we identified 34 loci as directly or indirectly involved in controlling the formation of multiple traits. Notably, a newly discovered DSCNV covering TaFT-D1 is significantly associated with flowering time and other agronomic traits. Overall, our findings highlight the potential of DSCNVs to drive fundamental discoveries in plant science. The comprehensive DSCNV map and the DSCNV-associated genes will also facilitate future research efforts to improve wheat yield, quality, and adaptation.