A theoretical assessment was made of whether the enzyme system glucose oxidase/catalase (GOX/CAT) has an antioxidative effect in a food model consisting of an O/W emulsion packed in an oxygen-permeable plastic bag. This model represents food products such as mayonnaises and other high-fat dressings. The various oxygen transport and consumption processes were analysed theoretically and their relative significance estimated. This showed that when GOX/CAT is present in the emulsion, lipid oxidation rate, enzymatic oxygen removal rate, and oxygen penetration through the packaging material were significant for the overall reaction rate, whereas all the diffusional resistances in the oil and in the aqueous phase could be neglected in a mathematical modelling of the system. The derived model predicts that the lipid oxidation rate in a packaged, stagnant emulsion is proportional to the oxygen permeability of the packaging material and inversely proportional to a term containing the GOX concentration and characteristic kinetic constants for the enzyme reaction and for the lipid oxidation reaction. Experimentally obtained results, where lipid oxidation rate was varied by adjusting the fatty acid composition of the mayonnaise, were in satisfactory agreement with the theoretical model.