Is Canola Oil As Good For You As Olive Oil. Both oils are good sources of vitamin e and polyphenols. No standards exist for canola oil.

While virgin canola oils exist, there is no consumer protection regarding the labeling. Canola oil is rich in omega 3 fatty acids while olive oil contains antioxidants. However, olive oil contains healthy polyphenols, powerful antioxidants that protect the body from free radicals.