To investigate the effect of refrigeration on the collagen and texture characteristics of yak meat, the changes in collagen content, solubility, shear force, hardness, cohesiveness, springiness, gumminess, and chewiness of yak meat at 4 ± 1 °C were measured. The results showed that the contents and solubility of collagen in yak meat significantly decreased (P < 0.05). The myofibrillar fragmentation index of yak meat significantly increased (P < 0.05). The shear force, hardness, cohesiveness, springiness, gumminess, and chewiness of yak meat significantly decreased (P < 0.05). Correlation analysis and histological structure analysis confirmed that myofibrillar fragmentation and collagen characteristics significantly affected the formation of yak meat texture during refrigeration. After 5 d of refrigerated storage, yak meat has a higher quality. The results provide a theoretical basis and data to support the deep processing and quality control of yak meat.