The initial physical and chemical characteristics of pili (Canarium ovatum) nut and pulp oils were determined. The oils were analyzed in terms of specific gravity, refractive index, iodine number, saponification number, free fatty acid number and peroxide value. Pili pulp oil had a higher specific gravity, refractive index, iodine and peroxide value than the nut oil. On the other hand, saponification number of the nut oil is higher than that of the pulp oil. Very high free fatty acid number in pili pulp oil was observed as compared to the nut oil. This is probably due to the acidic components and/or extensive hydrolysis of the pulp oil. Storage stability study showed that oils stored at room temperature had the most rapid deterioration. The peroxide value of pili nut oil stored under this condition exceeded 20 meq/kg after 10 weeks storage. On the other hand, treatment with nitrogen at 5 deg C increased the induction period of pili nut oil. Pili nut and pulp oils stored under this condition had the least rancidification.