Glycerolysis of triolein by lipase from Chromobacterium viscosum lipase was studied batchwise in AOT-isooctane reversed micelles. The reaction mixture was extracted with chloroform and the content of triolein, 1, 2-diolein, 1, 3-diolein, 1-monoolein, and free fatty acid in the condensed chloroform solution was determined using high performance liquid chromatography (HPLC). The effect of agitation speed on the initial rate of conversion was examined. As the speed of agitation increased up to 700 rpm, the reaction rate increased. However, above 700 rpm, the rate approached maximum and did not increase that much. The glycerolysis activity and the stability of the enzyme were affected by stirring and addition of histidine or copper. Addition of histidine and copper increased the rates of glycerolysis but they are detrimental to the operational stability in reversed micelles.