This study was conducted to investigate physicochemical properties and anti-allergic properties of walnut oil. pH, acid value and iodine value of walnut oil were respectively 4.9, 0.8 and 117. Most of general composition of walnut oil was crude fat(99.9%) Vitamin A and E were 0.06 and 10.25mg/100g and the major fatty acids of walnut oil was linoleic acid(62.8%). Total phenolics and antiallergic effects of walnut oil were estimated 27mg% and 62.82% at the concentration of 0.5% ethanol walnut oil. These results suggest that the walnut oil can provide one of the valuable resource for the functional foods.