An attempt has been made to investigate the nature of the characteristic darkening reaction occurring in the rice bran oil during the storage. Several pigments were separated by using column and thin layer chromatography of the pigments was made in the light of the knowledge of absorption spectral behavior. The presence of trace amount of iron and phytosteryl esters of ferulic acid (3-methoxy-4-hydroxy-cinnamic acid) was found to be responsible for the development of the characteristic color in rice bran oil. The model reactions with the ferulate, iron and fatty acids could be suggested the mechanism.