The potential of near‐infrared (NIR), mid‐infrared (mid‐IR) and Raman spectroscopy for the study of edible oil oxidation is discussed. Major spectral changes observed during oil oxidation are described in detail. The use of two dimensional correlation spectroscopy and multivariate curve resolution methods to aid spectral interpretation and to model the process of lipid oxidation, respectively, is presented. Different methods to assess the extent of oxidation by means of vibrational spectroscopic techniques are critically reviewed. They include methods that measure primary oxidation products, mainly hydroperoxides (peroxide value), as well as, secondary oxidation products like carbonyl compounds. Tests to evaluate the oxidative stability of edible oils by means of infrared spectroscopy are also described. Finally, some selected examples of methods to estimate lipid oxidation extent in foods (like salmon fillets, snacks, etc) are presented.