Provided is an edible fat or oil which has excellent oxidative stability and retains the intact flavor inherent in the fat or oil. The edible fat or oil contains a water-soluble antioxidizing substance, which is originally sparingly soluble in fats and oils, in an amount of 5-1,000 weight ppm and has an emulsifier content that is not more than twice the content of the water-soluble antioxidizing substance.