This method for producing an oil or fat that contains γ-oryzanol is characterized by comprising: a step (A) for obtaining a treated oil or fat product having an oil layer and an alkaline oil cake layer containing an γ-oryzanol salt and a step (B) for adding an acid to the treated oil and fat product obtained in (A), transferring the γ-oryzanol from the alkaline oil cake layer to the oil layer, and recovering oil or fat having an increased γ-oryzanol content. The method makes it possible to produce, at low cost, an oil or fat containing a desired concentration of γ-oryzanol without any constraint on the γ-oryzanol concentration of the raw oil or fat material.
