Phytol (3,7,11,15-Tetramethyl-2-hexadecen-1-ol),orderivates thereof, of natural or synthetic origin are used as active ingredient in formulations to lower serum levels of triglycerides and/or cholesterol. Phytol can be administered to patients with disease conditions related to increased levels of cholesterol or triglycerides such as type II diabetes, obesity or other patients in risk of cardiovascular diseases due to elevated cholesterol levels. Phytol can also be administered to healthy individuals to maintain normal levels of serum cholesterol.