Oil-bearing materials are the main source of vegetable oils and proteins. Some fatty acids and certain structured lipids have particular biological functionality. Important progress has been made in this respect in recent years. Certain amount of socalled wastes are produced simultaneously along with the vegatable oils and proteins production, which have not been utilized perfectly for a long time. Actually, many value-added prod-ucts can be isolated from the “wastes”，such as lecithin, tocopherols, tocotrienols, plant sterols and stanols, isoflavones, saponins, phytic acids, trypsin, oligsaccharides, phenolic acids, etc. Then are considered to be functional components. Due to the particularity of the functional components, current technology and equipments of oil industry are not totally adaptable to the requirement of their isolation. Thus, the innovations of fats and oils technology as well as the utilization of biotechnology in making structured lipids are of great significance .