Mayonnaise is a semisolid oil-in-water emulsion comprised of egg yolk, oil, and vinegar. One main problem with mayonnaise is its high fat content, so efforts have been made to develop low-fat sauces with similar characteristics to real mayonnaise. The purpose of this study was to evaluate the effect of medium-chain triglycerides (MCTs) blended with edible oil (soybean and olive oil) on the rheological, physicochemical, and sensory properties of low-fat mayonnaise. The results revealed that the shear viscosity decreased with the increase in medium-chain fatty acid (MCFA) contents and decreased with an increasing shear rate. Tan δ was <1, and a semisolid fluid with shear-thinning behavior was formed. The oscillation frequency test showed that the MCFA-containing mayonnaise was viscoelastic. The particle size and oil droplet analyses revealed that the emulsion droplet size and distribution were not significantly different in the MCT group compared to the control. The sensory evaluation demonstrated that the MCFA-containing mayonnaise was acceptable. This study illustrates that MCTs are a good substitute to produce the proper physicochemical properties of mayonnaise.