In this paper, first, we study linear deformations of a Lie–Yamaguti algebra and introduce the notion of a Nijenhuis operator. Then we introduce the notion of a product structure on a Lie–Yamaguti algebra, which is a Nijenhuis operator [Formula: see text] satisfying [Formula: see text]. There is a product structure on a Lie–Yamaguti algebra if and only if the Lie–Yamaguti algebra is the direct sum of two subalgebras (as vector spaces). There are some special product structures, each of which corresponds to a special decomposition of the original Lie–Yamaguti algebra. In the same way, we introduce the notion of a complex structure on a Lie–Yamaguti algebra. Finally, we add a compatibility condition between a product structure and a complex structure to introduce the notion of a complex product structure on a Lie–Yamaguti algebra.