Fatty alcohol or aliphatic glycol-grafted rubber-like silicone gels with enhanced oil compatibility are synthesized by 1) reacting a fatty alcohol or a aliphatic glycol with methylhydrodimethylsiloxane copolymer in the presence of a platinum catalyst in a reaction medium of a silicone fluid or a cosmetic oil or a mixture thereof, and 2) further reacting the mixture with a vinyl-functional siloxane polymer. The resulting compounds may be used as gelling agents for hydrocarbon oils, vegetable oils and silicone oils. The efficient synthetic process approaches a 100% yield.