A process for producing a salad oil comprises transesterifying a mixture of (A) an oil or fat produced from palm oil and having the following characteristics:______________________________________ iodine value: 55 to 75 constituent fatty acids: palmitic acid: 30 to 42% by weight oleic acid: 42 to 48% by weight linoleic acid: 11 to 20% by weight tripalmitin: 2% by weight or less open-tube melting point: 5 to 25.degree. C. ______________________________________ and (B) a liquid edible oil other than the component (A) in a weight ratio of 5:95 to 95:5 with immobilized lipase having 1,3-specificity in the absence of solvent and then fractionating the product in the absence of solvent. Thereby, the salad oil can be efficiently derived from palm oil which is a solid oil and the relative amount of the starting material obtained from palm oil in the salad oil can be increased. The thus-produced salad oil has a satisfactory cooling resistance.