AbstractThis study aims to synthesize a cocoa butter equivalent (CBE)‐structured lipid from a blend of illipe butter (IB) and palm midfraction (PMF) by means of enzymatic interesterification using Rhizomucor miehei sn‐1,3 specific lipase, Lipozyme® RM IM (Novozymes North America, Inc., Franklinton, NC, USA) as the biocatalyst. Physical and chemical attributes of the CBE and cocoa butter (CB) were analyzed. The synthesized CBE matched the triacylglycerol (TAG) profile range of a commercial CB and is therefore hypothesized to show similar physical and chemical characteristics to CB. The TAG profile, fatty‐acid constituents, melting and cooling behavior, polymorphism, and crystal morphology were determined using high‐performance liquid chromatography, gas chromatography, differential scanning calorimetry, X‐ray diffraction (XRD), and polarized light microscopy, respectively. Four enzymatically interesterified blends of IB:PMF at different weight ratios were analyzed for their TAG profiles, and a ratio of IB:PMF 10:3 (%, w/w) at 5% enzyme load and a reaction time of 30 min gave similar TAG results to CB. The TAG values of the IB:PMF 10:3 interesterified product (IP) were 1,3‐dipalmitoyl‐2‐oleoylglycerol at 19.1 ± 1.0%, 1‐palmitoyl‐2‐oleoyl‐3‐stearoylglycerol at 42.7 ± 1.0%, and 1,3‐distearoyl‐2‐oleoylglycerol at 29.9 ± 0.3%. The melting and the cooling profile of IP and CB showed no significant difference. XRD of IP and CB displayed similar dominant peaks at 4.6 Å, representing a β polymorph. Both CB and IP have similar granular spherulitic crystals.