WebMD lists flaxseed oil as a good source of omega-3 essential fatty acids, lignans and fiber. Studies have suggested that flaxseed can protect against certain cancers. The World's Healthiest Foods does not recommend using flaxseed oil as a cooking oil because it oxidizes quickly, instead suggesting it be added to food after the cooking process.
The World's Healthiest Foods suggests using flaxseed oil that has particulates added in to receive maximum health benefits. While not as nutritious as whole flaxseeds, flaxseed oil with particulates is high in lignans, a type of chemical in plants used to protect against cancers and affect hormonal balance. However, The World's Healthiest Foods also cautions that there are no industry standards for how much lignans that enriched oil should contain.
According to WebMD, these lignans may also play a role in preventing diabetes, inflammation and cardiovascular disease. Eating flaxseed daily or adding flaxseed oil into the diet can help lower blood pressure and improve blood sugar levels.
The World's Healthiest Foods describes flaxseed oil as an excellent source of omega-3 fats, which are largely recognized as being healthy and essential for development. A tablespoon of oil can contain up to 7 grams of fat. High intake may help prevent prostate cancer.