This work evaluated the effect of the addition of a mixture of canola‐chia oils (4:1) and 1% of gelatin on batter (specific gravity and rheology) and quality properties (volume, color, firmness, fatty acid profile, and sensory attributes) of a pound cake reduced in margarine (70% and 90%). Specific gravity (SG) significantly (p < .05) increased as the content of the mixture of oils increased and when the gelatin was added. Besides, the storage (G′) and loss (G″) modulus decreased as the percentage of mixture of oils increased, and these values increased with the addition of gelatin. The reduction of 70% of margarine did not modify apparently the gelatinization temperature and protein coagulation during baking. Sensorially, the reduction of cake at 70% and with 1% of gelatin (70‐1) was the most accepted, and it also showed a better balance of omega‐6 and omega‐3 (linoleic and linolenic; 1.4:1). PRACTICAL APPLICATIONS: This study allows us to evaluate the effect of a mixture of canola‐chia oils and gelatin addition on the quality and processing of a pound cake reduced in margarine (70% and 90%). Cake producers can reduce or substitute the margarine in a pound cake formula without changing the final cake quality. The study demonstrated that the use of the mixture of these vegetable oils noticeably improves the balance of omega‐6 and omega‐3, in this way its consumption becomes a healthier alternative. It is necessary to notice that the use of gelatin enhances the sensory properties of the pound cake. Therefore, the mixture of canola‐chia oils and gelatin improves the nutritional and sensory quality of the pound cake reduced in margarine.