A bicycle wheel basically has a central hub assembly, a plurality of spokes extending outwardly from the central hub assembly and an annular rim coupled to the outer ends of the spokes for supporting a tire. The central hub assembly has a hub axle, a hub unit, a freewheel and a sprocket assembly with a plurality of sprockets. The hub axle has a center axis extending between a first frame mounting end and a second frame mounting end. The hub unit has a hub body, a first spoke mounting portion, a second spoke mounting portion and an interior passageway. The first spoke mounting portion is located adjacent a first end of the hub body. The second spoke mounting portion is located adjacent a second end of the hub body. The interior passageway extends through the hub body with the hub axle being rotatably supported therein. The freewheel is operatively coupled between the first end of the hub axle and the first end of the hub body. The sprockets are coupled to the freewheel and axially spaced apart along the freewheel. The first spoke mounting portion has a recess that receives inner portions of the freewheel and the sprocket assembly therein. The first spoke mounting portion is also at least partially located in a radial center portion of one of the sprockets.