PROBLEM TO BE SOLVED: To provide a method for producing triterpene alcohol-containing fat and oil.SOLUTION: The method for producing triterpene alcohol-containing fat and oil is provided, comprising the following step (1), (2) and (3): (1) performing alkaline hydrolysis of &gamma-oryzanol-containing raw material, (2) neutralizing a hydrolysate obtained by the step (1) with acid in such a way that a degree of neutralization is within the range of 0.9-1.05 with respect to the amount of residual alkali, (3) mixing a neutralized substance obtained by the step (2) with fat and oil to obtain triterpene alcohol-containing fat and oil.