The disclosed method for producing a ³-oryzanol-containing fat or oil, the method comprising the steps of: (A) preparing a processed fat or oil having an oil layer and a soapstock (alkali-foots) layer containing a ³-oryzanol salt and (B) adding an acid to the processed fat or oil of step (A) for transfer of ³-oryzanol from the soapstock layer to the oil layer, and collecting a fat or oil with an increased ³-oryzanol content, enables inexpensive production of a fat or oil containing ³-oryzanol at any desired concentration without restriction to the ³-oryzanol concentration in the raw fat or oil.