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The high quality, positive nutritional aspects and heat stability, along with advancements in plant breeding enhancements of canola has resulted in canola oil becoming the third largest vegetable oil of choice for human consumption globally. Given the trend to provide shelf‐stable oils without hydrogenation and the nutritional concerns of trans fatty acid production during the hydrogenation process, canola oil, especially the high oleic canola oils, are ideally suited to be used as liquid oil and can replace hydrogenated oils in many applications. Processing techniques and processing equipment used in the processing of canola continue to evolve providing higher efficiency, environmentally friendly, reliable, and more stable canola oil products. This article covers the background, composition, processing techniques, and nutritional properties that have firmly established canola oil as a safe and healthy oil for human consumption as well as its use in biofuels and other nonfood applications.

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