The purpose of this study was to investigate any differences in the efficiency of various antioxidants for the three types of substrates such as corn oil in water (O/W) emulsion, water in com oil (W/O) emulsion, and bulky corn oil. ${alpha}$-Tocopherol (${alpha}$-Toc) at 0.01 or 0.02%, ascorbic acid (AsA), ascorbyl palmitate (AP), and BHT at 0.02% were added separately to the prepared O/W emulsion, W/O emulsion, and bulk oil, and their antioxidative effects were compared. The mixture of ${alpha}$-Toc ind AsA or AP at the level of 0.02% also was tested to observe any synergistic effect. Oxidation was made by storing at 42${pm}$1$^{circ}C$ for 25 days and the oxidative stability was determined by peroxide value and conjugated dienoic acid with time fluctuation of storage. The results were as follows: 1. In case of O/W emulsion, the order of antioxidative effect was AP> ${alpha}$-Toc+AP>${alpha}$-Toc+AsA>AsA>BHT. 2. In case of W/O emulsion, the order of antioxidative effect was AsA>AP>${alpha}$-Toc+AsA>BHT. ${alpha}$-Toc+AP mixture showed the prooxidant effect rather than synergistic effect. 3. In case of bulk oil, the order of antioxidative effect was AsA>AP>${alpha}$-Toc+AsA>${alpha}$-Toc+APulcornerBHT. Therefore, AsA, a hydrophilic antioxidant, was more effective in W/O emulsion system than in O/W emulsion system, while the opposite trend was found in AP, a lipophilic antioxidant. AsA, a hydrophilic antioxidant, was more efficient in bulk oil of anhydrous substrate. ${alpha}$-Toc showed prooxidant effects in all substrates.