The invention discloses an active peptide with anti-oil oxidation function, its preparation method and application, and belongs to the technical field of plant-derived bioactive peptides. The present invention selects the by-product of oil plant processing, that is, the oil plant after oil extraction, as a raw material, and through the steps of protein extraction, infrared pretreatment, proteolysis, freeze-drying, extraction of lipophilic part, vacuum concentration and drying, etc., a DPPH free radical scavenging compound is prepared. , metal ion chelation, inhibit lipid peroxidation, prolong the oxidation induction time of vegetable oil, enhance the stability of emulsion and other functional properties of anti-lipid oxidation peptide, can be used as a natural antioxidant in the storage and preservation of oil and other oil-containing foods, It solves the problem of product deterioration and harmful products caused by oil oxidation, and prolongs the shelf life of food; the method of the invention has great practical and social significance for curbing oil oxidation, ensuring food safety, and promoting technological progress.