Pomace oil is the lowest grade of olive-based oils. Pomace is that part of the olive that remains after all the oil and water in it has been removed by pressuring or centrifuging processes. With the use of certain solvents, there is still some residual oil that can be extracted from the olive pomace. This oil may then be refined, which results in a product bereft of any specific taste or colour; it also contains none of the vitamins of olive oil.

To make pomace oil acceptable to consumers, the producer blends it with virgin olive oil. As with pure olive oil, the producer may vary the proportions between the pomace oil and virgin olive oil; however, the virgin olive oil content is generally quite low. The blended product is called olive pomace oil. Like pure olive oil, it is suitable for use only in high-heat cooking.

Pomace oil is not a substitute for virgin oils. It is, however, an upgraded substitute for other refined oils and fats, such as sunflower oil, corn oil, palm oil, sesame oil, etc. Health-conscious consumers, therefore, can include pomace oil in their daily diet, as switching to healthier cooking oils is the easiest and, at the same time, the most substantial change that can be chosen to ensure a better level of health.