As one of the three major vegetable oils in the world, rapeseed oil is appreciated for its high nutritional value and characteristic flavor. Flavor is an essential attribute, determining rapeseed oil quality and consumer acceptance. The present manuscript provides a systematic literature review of recent advances and knowledge on the flavor of rapeseed oil, which focuses on aroma‐active as well as off‐flavor compounds, flavor analysis techniques (i.e., extraction, qualitative, quantitative, sensory, and chemometric methods), and effects of treatments (storage, dehulling, roasting, microwave, flavoring with herbs, refining, and oil heating) on flavor from sensory and molecular perspectives. One hundred thirty‐seven odorants found in rapeseed oil from literature are listed and possible formation pathways of some key aroma‐active compounds are also proposed. Future flavor analysis techniques will evolve toward time‐saving, portability, real‐time monitoring, and visualization, which aims to obtain a “complete” flavor profile of rapeseed oil. The changes of volatile compounds in rapeseed oil under different treatments are summarized in this view. Studies to elucidate the influence of different treatments on the formation of aroma‐active compounds are needed to get a deeper understanding of factors leading to the variations of rapeseed oil flavor.