Abstract: Peanut and soybean oils were placed in stainless steel storage tanks in natural environment, static atmosphere tanks, added tertiary butyl hydroquinone (TBHQ) tanks, nitrogen-filled tanks and underground tanks were stored for 18 months. Acid value, peroxide value, fatty acid composition, tocopherols, phytosterols and the volatile flavor compounds were detected. The results indicated that underground storage (no nitrogen adjustment and no antioxidant added) was found to be the most appropriate method for maintaining the quality of peanut and soybean oils over time. Static atmosphere tanks caused the most pronounced losses of tocopherols, phytosterols, and the volatile flavor compounds in peanut and soybean oils. The acid value of the four peanut oils and four soybean oils did not exceed the Chinese GB/T 1534-2017 and GB 2716-2018 standard limit of 1.5 and 3.0 mg KOH/g. However, the peroxide value of peanut oil in static atmosphere tank, nitrogen-filled tank and underground tank exceeded the Chinese GB/T 1534-2017 standard limit of 12 meq O2/kg at 5 months, 11 months and 13 months respectively, but the peroxide value of peanut oil added TBHQ did not exceed the national standard limit. The peroxide value of soybean oil in static atmosphere tank and nitrogen-filled tank exceeded the Chinese GB 2716-2018 standard limit of 20 meq O2/kg at 7 months and 18 months respectively, but the soybean oil added TBHQ and underground did not exceed the national standard limit.