The present invention provides an oil and fat composition that can prevent not only coloring caused by heating and cooked odor during heat cooking but also increase in acid value as well as that can endure long-term use. The oil and fat composition which can prevent coloring caused by heating cooked odor and increase in acid value can be obtained by incorporating 0.1 ppm or more and 10 ppm or less of a phosphorus component and ascorbic acid and/or an ascorbic acid derivative in an ascorbic acid equivalent of 2 ppm or more and 130 ppm or less into an edible oil and fat.
