An overview of lipids oxidation in foods, its main aspects and implication for the customer has been outlined in a concise form. Three different mechanisms of fatty acid oxidation yielding different products are described: autooxidation, photo-oxidation and lipooxygenase action. Oxidation of sterols and fat-soluble vitamins (named A, D, E and K), all isoprenoic compounds, as a part of unsaponificable fraction of lipid are included to review. It is indicated that relatively little information exists on oxyphytosterols. The contents of these compounds in food products are presented. The crucial significance for the sensory aspect of food quality is ascribed to volatiles from lipid oxidation products. Some volatiles with low odour threshold are characterized. Nutritional problem of lipid oxidation products and products obtained by interactions with other food components is discussed. Use of antioxidants as important factors in reducing the risk of chronic diseases and its economical aspects is discussed. The need for search of natural antioxidiant, commonly perceived as safe is stressed. Last part of review covers the methods for the assessment of lipid oxidation. Classic methods for the determination of lipid stability, for the measurement of lipid oxidation are described. Also chromatographic analyses of volatile compounds generated in the lipid oxidation process included static, dynamic head space and SPME are discussed. The novel approaches to the analysis of these volatiles such as chemometrical methods and electronic noses are also presented.