Aerosol whipped cream, widely used in various foods, relies on solid fats rich in saturated fatty acids (SFAs) for stable gas entrapment. In this study, the potential of oleogels as a healthy fat substitute for formulating aerosol whipped cream was studied. The analysis focused on the effects of different types (beeswax [BW], rice bran wax [RW], and carnauba wax) and the quantities of wax on the properties of the aerosol whipped creams. The BW-oleogel-based aerosol whipped cream exhibited the highest foam ability and foam stability. The superior physical properties of the bees wax-oleogel were attributed to the higher overrun and height stability of its whipped cream compared to RW and carnauba oleogels. The 6% BW-whipped cream showed significantly higher overrun and cream stability. The 6% BW oleogel whipped cream contained 4.4 times lower SFAs than the dairy milk fat whipped cream. This study represents the first exploration into the feasibility of formulating oleogel-based aerosol whipped cream using liquid vegetable oil.