It is to provide a technique for preventing aggregation or caking of menthol at the time of its keeping. In addition, it is to provide a lipid composition, which can show excellent thermal stability even in the case of high temperature at the time of keeping menthol and at the time of blending in a product, does not cause mutual aggregation of powders, particles, flakes, pellets, sticks and the like of menthol, and can maintain its shape retention property. From 10 to 50% by mass of sterols are added to and mixed with from 50 to 90% by mass of menthol, and the resultant is melted with heating. Paraffins may be further added and mixed in an amount of 20% by mass or less, based on the lipid composition.
