Background: Mayonnaise, a high-oil containing product, is susceptible to oxidation resulting in quality deterioration and the formation of undesirable components such as free radicals and reactive aldehydes. A better understanding of the factors affecting lipid oxidation and ways of retarding oxidation in mayonnaise is essential in order to improve the shelf-life of mayonnaise. Scope and approach: This review presents up-to-date knowledge on the factors affecting lipid oxidation and strategies to retard lipid oxidation in mayonnaise, with an emphasis on natural antioxidants, and application to other similar emulsions. Eliminating possible factors, which will reduce the induction period and hasten rancidity, can increase the shelf life of mayonnaise but one of the most effective means of retarding lipid oxidation in mayonnaise is to incorporate antioxidants. Due to the negative effects and perceptions of synthetic antioxidants, there has been a growing interest in improving oxidative stability of food products with natural ingredients. Therefore, to provide a better base for food engineers to design an effective natural antioxidant system for mayonnaise, in this review the emphasis is given to using natural antioxidants in mayonnaise. Key findings and conclusion: Recent studies showed that incorporation of natural antioxidants in mayonnaise could increase its oxidative stability. However, natural antioxidants may exert a negative effect on sensory properties and further studies are needed to identify, quantify and overcome this problem. Manipulating the interfacial layer of the oil droplet also shows promise for retarding oxidation; however, there is a lack of literature addressing this area.