This study presents several aspects of the mutual interaction between lipids and proteins. Nutritional and technological implications of the reaction of oxidized lipids with proteins are discussed. Changes are highlighted in the content of amino acids and protein digestibility, formation of cross--links, fl avor compounds, as well as the formation of colored non-enzymatic browning products. Attention is paid to the agents which may determine the reaction of amino acids with the products of lipid oxidation, i.e. the presence of catalysts or inhibitors in the environment, the presence of water, pH of the environment, temperature or reaction time. It was also noted that the conformation of the protein structure, the surface charge, the affi nity, and the accessibility of reactive groups affect the intensity of these interactions. This review article presents methods which reduce oxidative rancidity due to the use of antioxidant compounds, particularly the possibility of the use of natural antioxidants that reduce the number of lipid and protein oxidation products, and are simultaneously able to model the nutritional value of food.