In this study the application of membrane processes for olive oil bleaching is investigated. Olive oil is treated by adding 0.7 wt% of bleaching earth, 0.3 wt% of activated charcoal, and 5% wt% of sodium dodecyl sulfate solution (0.05 m) and then charged into the membrane cell. Operating conditions including pressure ((2−4) × 105 Pa), temperature (25–45 °C), and stirring rate (100–300 rpm) are optimized. Physico‐chemical properties of membrane bleached oil are evaluated and compared with crude and industrially bleached olive oil. Results show that the filtration conditions for the optimized point are as follows: pressure = 3.7 bar (3.7×105 Pa), temperature = 36.5 °C, and stirring rate = 300 rpm. Under optimum conditions, the amounts of carotenoid and chlorophyll contents are decreased (71.3% and 40.42%, respectively). Acidic and thiobarbituric acid values reduction in membrane‐processed oil (12.42% and 14.46%, respectively) are more than the industrial one. Also, some bioactive compounds such as sterols and phenolic compounds are increased in the membrane‐filtered sample (23.13% and 57.12%, respectively). Practical Applications: Olive oil bleaching is an important step along the refining process. Pigments and minor impurities that reduce olive oil stability are removed in this step. Given the disadvantages of conventional bleaching, alternative methods are introduced. In this study, the effect of membrane filtration on olive oil color is studied. Because of the mild operating conditions, the reduction of clay percentage, as well as the increase of bioactive compounds in optimum conditions, this method has the potential to be a good alternative to conventional bleaching processes.