AbstractOil is a prominent, but multifaceted material class with a wide variety of applications. Technical oils, crude oils as well as edibles are main subclasses. In this review, the question is addressed how low‐field NMR can contribute in oil characterization as an analytical tool, mainly with respect to quality control. Prerequisite in the development of a quality control application, however, is a detailed understanding of the oils and of the measurement. Low‐field NMR is known as a rich methodical toolbox that was and is explored and further developed to address questions about oils, their quality, and usability as raw materials, during production and formulation as well as in use.