Polar lipids of crude oat oil were investigated. Oat oil was separated from oats by extraction with isopropanol. Polar lipids were fractionated from crude oil by supercritical CO2‐extraction, by ultrafiltration in hexane and by water degumming. The polar fraction from CO2‐extraction had the highest phospholipid and lowest tocopherol content. The polar fractions made by different methods possessed similar antioxidative properties. However, the polar lipids from oats were more powerful antioxidants than those made from soybean or rapeseed oil.