The combination of oleogels has recently begun to receive scientific attention because a single oleogels may not adequately compensate for the multiple roles of solid fat in complex food systems. In this study, corn oleogels were prepared from candelilla wax (CLW), beeswax (BW), carnauba wax (CW), and ethyl cellulose (EC) with different mass ratios, and their physicochemical properties were characterized in terms of heat, rheology and microstructure. The strength of oleogel was CLEOs > BEOs > CWEOs. With the increase of the amount of wax in the oleogelators, the color L* value, the ability to bind oil, the melting temperature, the hardness and the viscosity and strength of the oleogels were increased. Microscopic analysis showed that the gel network was formed based on the crystallization and self-organization of gel molecules, and the two oleogelators showed independent crystallization behavior in the oleogel. Furthermore, the FTIR spectra showed that noncovalent bonds of van der Waals forces played a dominant role in the composite oleogel network formed through physical entanglement as compared to hydrogen bonds. XRD results showed higher lateral packing of molecular layers in oleogels prepared from combined EC and wax compared to oleogels prepared from a single oleogelator. This study provides a reference for the development of a new composite oleogel system.