Over the last few decades the insulating performance of transformer oils has been broadly studied under the point of view of nanotechnology, which tries to improve the insulating and heat dissipation performance of transformer oils by suspending nanoparticles. Many authors have analyzed the thermal and dielectric behavior of vegetable oil based-nanofluids, however, very few works have studied the evolution of these liquids during thermal aging and their stability. In this paper has been evaluated the performance of aged vegetable oil based-nanofluids, which have been subjected to accelerated thermal aging at 150 °C. Nanoparticles of TiO2 and ZnO have been dispersed in a commercial natural ester. Breakdown voltage, resistivity, dissipation factor and acidity of nanofluid samples have been measured according to standard methods, as well as stability. Moreover, it has been analyzed the degradation of Kraft paper through the degree of polymerization (DP). The results have showed that although nanoparticles improve breakdown voltage, they increase the ageing of insulation liquids and dielectric paper.