Disclosed is a fat and/or oil composition which contains (A) 0.02 1.8% by mass of a free triterpene alcohol and (B) 1.4% by mass or less of a fatty acid ester type triterpene alcohol with the mass ratio of (A)/(B) being more than 1. The fat and/or oil composition can be used in cooking and is capable of improving properties such as flavor of a cooked product.