A fat or oil composition comprising a polyvalent unsaturated fatty acid component and an emulsifying agent having an HLB of 4 or less, wherein the amount of the emulsifying agent having an HLB of 4 or less is from 25 to 300 parts by weight, based on 100 parts by weight of the polyvalent unsaturated fatty acid component. The fat or oil composition can be used as an oil-in-water droplet emulsion composition. The fat or oil composition and the oil-in-water droplet emulsion composition can be used for foodstuff and the like.