High-resolution electrospray ionization Fourier transform ion cyclotron resonance mass spectrometry is successfully used in the detailed molecular analysis of aged macadamia nut oils. The results are consistent with peroxide values, the current industry measure for rancidity, and provide detailed molecular information on the oxidative and hydrolytic degeneration of such oils. Mass analysis of macadamia oil samples stored for extended periods at 6 °C revealed that oils obtained by the cold press method are more susceptible to aging than those obtained using modified Soxhlet or accelerated solvent extraction methods.