The oil content and composition of squid visera were determined to obtain data for utilization of this by-product. There was no significant difference in the glycolipid (GL) and phospholipid (PL) content in Illex argentinus and Todarodes pacificus, but neutral lipid (NL) was different (p<0.05). The viscera oil of I. argentinus contained $30.50\%$ total lipid which consisted of $96.24\%$ NL, $2.63\%$ GL, $2.37\%$ PL, and contained $644mg\%$ cholesterol. The viscera oil of T. pacificus contained $30.20\%$ total lipid which consisted of $94.82\%$ NL, $2.85\%$ GL, $2.34\%$ PL, and contained $1,224;mg\%$ cholesterol. The NL, GL and PL of viscera oil in I. argentinus mainly consist of triglyceride $(44.01\%)$, esterified steryl glycosides $(58.95\%)$ and phosphatidyl cholines $(32.36\%)$, respertively. Those of viscera oil in T. pacificus mainly consist of triglyceride $(39.63\%)$, monogalactosyl diglycerides $(51.67\%)$ and phosphatidyl cholines $(31.98\%)$, respectively. The major fatty acids of the viscera oil of I. argentinus and T. pacificus were C16 : 0, $C16;:;0,;C18;:;1omega9,;C20;:;4omega6,;C20;:;5omega3,;C22;:;6omega3$. In Illex argentinus, the fatty acids of NL mainly were $C16;:;0,;C18;:;1omega9,;C20;:;4omega6,;C20;:;5omega3,;C22;:;6omega3$. PL were $C16;:;1omega7,;C20;:;5omega3,;C22;:;6omega3$ and GL were $C18;:;1omega9,;C20;:;5omega3,;22;:;6omega3$. The major fatty acids of NL in T. pacificus were $C16;:;0,;C18;:;1omega9,;C20;:;4omega6,;C20;:;5omega3,;C22;:;6omega3$, PL were $C16;:;1omega7,;C20;:;5omega3,;C22;:;6omega3$, and GL were $C18;:;1omega9,;C20;:;5omega3,;C22;:;6omega3$.