Membraneless electrolyzed water (MLEW) is generated by electrolysis of dilute salt water solution without a membrane separating cathodic and anodic water. The stability of MLEW under different storage temperatures and pHs, as well as its lipid oxidizing effects have not been extensively studied. In this study, three storage temperatures and two pH conditions were used to study the stability of the water. MLEW's lipid degradation potential was investigated using two methods by measuring the degree of oxidation of lipids containing polyunsaturated fatty acids. Lipid oxidation in an emulsion model free of other interferences was conducted with MLEW containing 30, 50 and 100 mg L−1 free chlorine (FC), and lipid oxidation in a salmon fish fillet was conducted by washing the fillet pieces with MLEW containing 100 mg L−1 FC. We found that the MLEW was relatively stable in capped containers under both acidic and neutral pH during the 21‐day period. Although there was significant lipid oxidation in the emulsion system, and the extent of oxidation was FC concentration dependent, we did not observe significantly more lipid oxidation in fish treated with MLEW compared to the control (stored under 4 °C for 10 days). Therefore, we conclude that MLEW may be used as a disinfectant in commercial operations without causing significant lipid oxidation and rancidity generation in foods.