Disclosed is a flavor improving material including, as an active ingredient, a partial hydrolysate of an animal/vegetable oil/fat, the partial hydrolysate having been brought into contact with an adsorbent. Preferably, the adsorbent has a pH of from 3.0 to 8.0. Preferably, the adsorbent is silica gel. Preferably, the partial hydrolysate of the animal/vegetable oil/fat is obtained by a column-type enzymolysis process. Preferably, the enzymolysis process uses an immobilized enzyme employing an ion-exchange resin as a carrier. Before or after being brought into contact with the adsorbent, the partial hydrolysate of the animal/vegetable oil/fat is preferably subjected to (A) a step of performing an oxidation treatment such that a peroxide value of the partial hydrolysate of the animal/vegetable oil/fat is from 5 to 60.
