The composition for oral administration of testosterone to a man who has androgen deficiency and exhibits one or more symptoms of androgen deficiency, comprises testosterone and a mixture of soybean oil and ethanol. Preferably, a pharmaceutically acceptable preservative, such as benzyl alcohol, is included in the composition. The mixture of soybean oil and ethanol is present in the composition in an amount such that when the composition is orally ingested by the testosterone is absorbed and one or more of the symptoms of androgen deficiency is ameliorated. The composition is charged into hard or soft gelatin capsules to produce orally administrable unit dosage forms.