Soybean oil with an improved frylife is produced from soybeans having less than 3% by weight C18:3 acids based on the total content of free fatty acids by heating the soybeans at a time and temperature sufficient to enable extraction of oil from the soybeans; mechanically pressing the soybeans to separate the oil; and heating the oil at a temperature of up to about 500.degree. F. under a vacuum to remove free fatty acids from the soybean oil.