Karawila (Momordica charantia), also known as bitter gourd, is widely used as a food and a medicine in Asian countries. Representative samples of the seeds of the most abundant cultivar (MC43) in Sri Lanka were collected. The kernel represented 60 ± 4.7% of the seed by dry weight basis. The oil content of the dry kernel was 40.45 ± 3.12%. The seed oil was rich in a-eleosteric acid (50.04 ± 4.80%) and three other geometrical isomers of 9,11,13-octadecatrienoic acid that constituted 6.55%. The acid value, the saponification value and the iodine value were 2.73 ± 0.876, 190.70 ± 1.82 mg/g and 115.96 ± 3.46 cg/g, respectively. The set-to-touch drying time of 3 h observed for the seed oil of MC43 was significantly less than that of linseed oil (13 h). The presence of a high amount of conjugated octadecatrienoic acids, low acid value, high saponification value, moderate iodine value and the low set-to-touch drying time are promising indicators of the potential of karawila seed oil as a good drying oil for the paint and coating industry.