The invention discloses hempseed oil with high application value. The hempseed oil is prepared from the following raw materials in parts by weight: 87 to 94 parts of hempseed oil, 10 to 17 parts of lard, 28 to 37 parts of tea oil, 2 to 8 of barley, 4 to 11 parts of black rice, 12 to 19 parts of black sesame, 5 to 10 parts of sugar cane juice, 2 to 8 parts of carambola, 1 to 4 parts of papaya, 2 to5 parts of glutinous rice, 3 to 7 parts of peanuts, 1 to 5 parts of amomum cardamomum, 4 to 8 parts of colla corii asini, 0.6 to 1 part of xylitol, 0.2 to 0.7 part of fatty acid and 0.5 to 0.9 part of plant polyphenol. The hempseed oil disclosed by the invention increases the nutritional value of the edible oil and has relatively high application value. The content of unsaturated fatty acids in the hempseed oil is about 90%, and the content of essential fatty acids is about 80%. The fatty acids in the hempseed oil also assist in promoting the brain function health. The hempseed oil also provides a large amount of vitamins E, magnesium, zinc, iron and phosphorus. An everyday intake of a teaspoon of the hempseed oil can achieve a recommended intake of daily nutrients; the hempseed oil is functional fat with extremely high utilization value.