Apricot kernels are known to be rich in bioactive compounds such as polyphenols, which have applications in various fields such as cosmetology and the food industry. However, the extraction of these compounds has not been extensively studied. In this study, we aimed to extract oil from apricot kernels and investigate its composition and antioxidant properties. Samples from two years of apricot cannery by-products were used in the study. We employed a common extraction procedure using hexane as a solvent, followed by an analysis of the oil’s fatty acid composition and determination of its antioxidant properties using several methods. Our results indicated that the oil extracted from apricot kernels is rich in oleic and palmitoleic acids, which exhibit health benefits. As regards the volatile compounds of the oil, 2-methyl propanal, benzaldehyde, and benzyl alcohol were detected as the main compounds. Benzaldehyde was also found to be the main component of the essential oil of the kernel. Furthermore, the oil exhibited low antioxidant activity, as demonstrated by its ability to scavenge free radicals. Overall, our findings suggest that apricot kernels are a valuable source of oil with potential applications in the food and cosmetic industries.