An oil and fat composition is provided which can reduce cooked odors without using an additive such as emulsifier. The oil and fat composition includes an oil and fat produced by oxidizing a fresh oil and fat so that a difference in anisidine value before and after the oxidation is 0.5 to 350, and an edible oil and fat. An added anisidine value of the oil and fat composition is 0.07 to 350 and is further calculated by the following formula: added anisidine value=(anisidine value after oxidation-anisidine value before oxidation)×[additive amount (wt. %)].本發明的課題是提供可抑制加熱臭味之油脂組成物，而不需使用乳化劑添加物。本發明的油脂組成物，係含有氧化處理油脂及食用油脂新油，其中氧化處理油脂是以無水方式氧化處理一油脂新油而得到，且在氧化處理前後的甲氧苯胺價數差異界於0.5~350，其中油脂組成物之甲氧苯胺添加價數界於0.07~350，其符合下式：甲氧苯胺添加價數=〔(氧化處理後的甲氧苯胺價數)-(氧化處理前的甲氧苯胺價數)〕×添加量(重量%)，其中添加量為氧化處理油脂相對於油脂組成物之重量百分比，且添加量界於0.001~10.0重量%。
