According to the present invention, there is provided a process for enzymatically producing dietary sterol fatty acid esters having physiological activities from phytosterols and fatty acids or oils and fats using lipase as a catalyst; the synthetic reaction conditions and the purification steps are so structured that dietary sterol fatty acid esters superior in sensory qualities including color, odor and taste, and safety, which is applicable as a general food, a health food or pharmaceuticals can be produced.