In commercial terms, Virgin Olive Oil (VOO) is considered an exceptional food of excellent sensory and nutritional quality, for its taste and genuine odour and, as well as for its bioactive compounds, of a great interest for the health. This quality can be affected by oxidative degradation, chemical as well as enzymatic (activity of oxidative endogenous enzymes from polyphenol oxidase and peroxidase olive fruit type), of essential components during extraction and conservation of VOO. In the bibliography, the reduction of oxygen during the malaxation process and the storage of the oil has been studied in different ways. However, research about the reduction of oxygen in the crushing of olive fruit, malaxation of the paste and/or both at the same time in “real extraction condition” is scarce. The reduction of oxygen has been compared to control conditions (concentration of atmospheric oxygen of 21%). Batches of 200 kg of olive fruit, Picual cultivar, were used and the following treatments were applied: Control (21% O2 Mill - 21% O2 Mixer), “IM-NM”: Inerted milling -Normal malaxation (6.5% O2 Mill-21% O2 Mixer), “NM-IM”: Normal milling-Inerted malaxation (21% O2 Mill-4 % O2 Mixer) and “IM-IM”: Inerted milling-Inerted malaxation (5.5% O2 Mill-10% O2 Mixer). The parameters of commercial quality covered by Regulation: free acidity, peroxide value and absorbency in ultra-violet (k 232 and k270) did not suffer any change in relationship to the control, the oils belong to the comercial category of “Extra virgin olive oil”. The phenolic compounds are involved in the distinctive bitter and purgent taste and, their healthy properties and their oxidative stability, increased with the downsizing amounts of oxygen regarding control and the IM-NM, NM-IM and IM-IM treatments with an average of 4, 10 and 20 %, respectively. By contrast, total volatile compounds decrease between a 10-20 % in all oxygen reduction treatments. The volatile compounds arising from lipoxygenase pathway, which are responsable for the green and fruity notes of VOO, also decreased their concentration with the treatments, between 15-20%. The results show how the reduction of oxygen in the milling and malaxation stages of olive fruit can modulate the content of phenols, volatile compounds, carotenoids and chlorophyll pigments of the VOO avoiding the degradation of compound with sensorial and nutritional interest.