Abstract: Although animal fat plays an important role in the juiciness and flavor of meat products, excessive intake will cause potential harm to the human body because it contains a large amount of saturated fatty acids and cholesterol. However, simply reducing the fat content in meat products will have a negative impact on the quality of the products. Therefore, how to reduce the fat content in meat products and maintain product quality has become an urgent problem in the meat industry. The vegetable oil-based oleogel not only has superior fatty acid composition but also has similar properties to animal fat. Moreover, the oleogel can confer meat products the smooth and mellow taste, which can effectively reduce the content of animal fat without destroying the original quality characteristics of the products. Therefore, this article comprehensively reviews the formation mechanism and preparation methods of oleogel, as well as the application of different types of oleogel in the field of low-fat meat products. This article may provide further insights for the production of new and healthy meat products with low saturated fatty acid content and low cholesterol content.