Initial dynamic flavor release from oil/water emulsions containing different TAG phases was studied using a computerized apparatus and thermodesorption GC. A significant influence of lipid molarity on liquid/liquid partitioning and release of some flavor compounds was found. The release of the least hydrophobic compounds was not affected by any type of lipid. Hydrophobic compounds showed a positive correlation between their release and decreasing molarity of the lipid phase, that is, with increasing number of lipid molecules; only the most hydrophobic compounds did not show such a correlation. A strong linear correlation between low-melting TAG/water partition coefficients and lipid phase molarity was validated by volatile partition data of C6, C11, and C16 alkane/water systems. Lipid phase transition from the liquid to solid state did not affect flavor partitioning and release. Neither experimental nor theoretical octanol/water partition coefficients agreed with experimental TAG/water and alkane/water partition coefficients.