Although olive oil is touted as a wonder food for your cholesterol, don't think you have to use it exclusively. After all, there are instances -- for example, when baking -- where olive oil won't do.
The best choice in those cases is canola oil. It's the lowest in saturated fat, with a favorable ratio of omega-3 to omega-6 fatty acids, and although it doesn't get nearly as much publicity, it's just as good as olive oil when it comes to lowering your cholesterol.
Studies have shown the many potential heart-healthy benefits of canola oil. At a 2000 meeting of the American Heart Association, scientist Dr. Lawrence L. Rudel presented evidence that canola oil can reduce atherosclerosis (otherwise known as the hardening of the arteries). This cholesterol-friendly oil is also a significant source of vitamin E, an antioxidant that has been shown to reduce the risk of coronary heart disease (CHD).
Canola oil is also cheaper than olive oil and has very little flavor, making it more versatile. Keep a bottle in your cupboard for any recipe that calls for vegetable oil.