Polycyclic aromatic hydrocarbons (PAHs) are a class of highly carcinogenic compounds with a lipophilic nature. This study investigated the characterization of PAH24 contamination in twenty-one types of butter and five types of margarines using the QuEChERS pretreatment coupled with GC-QqQ-MS. Additionally, low-temperature storage experiments were conducted to explore the variations in oxidation index as well as the PAH levels. The results revealed that PAH24 concentrations in butter and margarine were 50.75-310.64 μg/kg and 47.66-118.62 μg/kg, respectively. The PAH4 level in one type of butter reached 11.24 μg/kg beyond the EU standards. Over 160 days of storage at 4 °C, acid value (AV), peroxide value (POV), and acidity significantly increased, while malondialdehyde (MDA) content and carbonyl value (CGV) fluctuated. Concentrations of PAH24 and oxidized PAHs (OPAHs) experienced a notable reduction of 29.09% and 63.85%, respectively. The slow reduction in naphthalene (NaP) indicated the dynamic nature of PAHs during storage. However, the toxic equivalency quotients (TEQs) decreased slightly from a range of 0.65-1.90 to 0.39-1.77, with no significant difference. This study contributes to the understanding of variations in PAHs during storage, which is of great significance for food safety.