Recently, there has been a significant transition in the dietary preferences of consumers toward foods containing health-promoting compounds. In addition, as people's environmental awareness increases, they are increasingly looking for sustainable solutions. Palm oil, an oil used extensively by the food industry, does not fit these criteria. This study investigated the development of a complex oil blend consisting of commonly used vegetable oils such as corn, rapeseed, sunflower, and palm oil. The aim was to find the optimal blended oil and compare this combination with palm oil in terms of its oxidative stability, antioxidant capacity, and the composition of bioactive compounds (i.e., fatty acids, tocopherols, and carotenoids). Palm oil was found to have greater oxidative stability as a result of its increased concentration of saturated fatty acids. The optimal blended oil, which consisted of corn and rapeseed oil at a ratio of 4:3 w/w, inhibited the superior antioxidant activity, showing a ~33% increase in DPPH• inhibition activity. ATR-FTIR spectra further verified the existence of a significant quantity of saturated fatty acids in palm oil and unsaturated fatty acids in the blended oil. Finally, several correlation analyses revealed interesting connections between oil samples and investigated parameters. This work has the potential to establish a basis for the mass production of oil blends that possess high concentrations of antioxidant compounds and reduce the use of palm oil.