This study aimed to apply an ultrasonic pulse-echo system to characterize thermally oxidized rapeseed oil. After 60 h of heating treatment (165 ± 5°C), the physicochemical (density, viscosity, acid value, iodine value and polar compounds) and acoustic properties (velocity, acoustic impedance, maximum amplitude of the first echo, difference in amplitude, and area under the curve) of rapeseed oil were measured. Support vector machine, random forest (RF), and backpropagation neural network algorithms were used to establish quantitative prediction models for viscosity and polar compounds based on the acoustic properties of rapeseed oil. The results indicated significant correlations between acoustic impedance and viscosity (R=0.70), as well as between acoustic impedance and polar compounds (R=0.79). Heating treatment reduced oil unsaturation and led to the formation of oxidative and polymeric compounds, which in turn increased the velocity and impedance, while decreasing the other three acoustic features. The RF model yielded the best performance in predicting viscosity (R2=0.7944) and polar compounds (R2=0.8385). These findings highlight that ultrasonic technology not only accurately predicts key quality parameters, but also provides a rapid, non-destructive, and cost-effective alternative to traditional methods for characterizing thermally oxidized rapeseed oil.