A process for removing impurities from a crude vegetable oil. The process involves mixing the crude vegetable oil with removal reagents and pumping the mixture through a multi-stage, hydrodynamic cavitation device. The mixture is subjected to hydrodynamic cavitation processes, which result in the repeated generation and collapsing of vapor bubbles of volatile components in the process fluid, leading to the formation of an emulsion of vegetable oil and a water-phase from the process fluid into an emulsion. The water-phase contains the impurities. The vegetable oil and water-phase are then separated. Lecithin may be made from the phospholipids in the water-phase after appropriate drying processes.