Rice bran oil (RBO) is a valuable ingredient extracted from rice bran (RB), a side stream of polishing rice grain in the milling process. RBO is rich in bioactive ingredients with potential health benefits, such as gamma-oryzanol (GO) and gamma-aminobutyric acid (GABA). Despite its benefits, the quality of RBO depends on the degree of stabilisation of the RB, which is easily affected by lipase enzymes, and thus needs an effective treatment prior to RBO production. To assess the potential of the microwave-assisted method for RB stabilisation and RBO extraction, three Carolino rice varieties (Ariete, Teti, Luna) were tested. The effect of RB stabilisation was evaluated via acid value, water absorption, and GO and GABA levels. The RBO yield was optimised by solvent, temperature, and solvent-to-sample ratio, and the GO and fatty acid levels were determined. The RB stabilisation for the Luna variety did not affect the GO and GABA; for the Ariete and Teti varieties, the GO decreased by 34.4% and 24.2%, and the GABA increased by 26.5% and 47.0%, respectively. The GO levels in RBO samples were not affected by RB stabilisation. The RBO nutritional value was confirmed by the suitable ratio (>2) between polyunsaturated (PUFA) and saturated fatty acids (SFA), with the Teti variety presenting the highest ratio.