Olefin metathesis is one of the most exiting tools in synthetic chemistry that can explicitly be employed to produce higher value products from unsaturated fats and oil feedstock. Contrary to the early stage metathesis catalysts, being extremely sensitive to humidity and to the substrate functionalities, redesigned organometallic species not only exhibit greater activity and selectivity but also offer pronounced stability towards functional olefins and ambient atmosphere. Though a number of highly efficient homogeneous catalysts have been developed, these are generally costly and also lead to product contamination and, consequently, pose environmental concerns. Heterogeneous catalysis can be an alternate route; however it faces a number of hurdles such as support compatibility, multiple active sites, and abridged efficacy. Nevertheless, through careful designing, certain heterogeneous catalyst systems have been suggested for metathesis of functionalized olefins like fatty acid methyl esters (FAMEs). A number of metallic species such as organometallic compounds bearing metal‐alkylidene moieties (e.g. Grubbs‐/Schrock‐type systems), alkylidene‐free complexes (e.g. methyltrioxorhenium), and inorganic (W, Mo, Re) oxides/chlorides have been probed in this regard. Accordingly this mini review deals with the various aspects like heterogenization/immobilization, activity criteria, and reusability of such catalyst systems in the context of olefin metathesis of natural fats/oils derivatives.