The disclosed method for producing a γ-oryzanol-containing fat or oil, the method comprising the steps of:(A) preparing a processed fat or oil having an oil layer and a soapstock (alkali-foots) layer containing a γ-oryzanol salt and(B) adding an acid to the processed fat or oil of step (A) for transfer of γ-oryzanol from the soapstock layer to the oil layer, and collecting a fat or oil with an increased γ-oryzanol content, enables inexpensive production of a fat or oil containing γ-oryzanol at any desired concentration without restriction to the γ-oryzanol concentration in the raw fat or oil.