Olive oil can be used for deep-frying, provided it is a high-quality product and care is taken when heating it according to the International Olive Council. When used correctly for deep-frying, olive oil does not undergo substantial structural changes when heated, keeps its nutritional value better than other oils and improves the flavor of food.
Olive oil's unsuitability for deep-frying is a myth based on inaccurate information regarding its smoking point, according to the council. Smoking point refers to the temperature at which oil breaks down and begins to smoke. A high-quality olive oil has a smoking point of 410 degrees; you need to heat oil to around 360 degrees for most types of deep-frying.