Rancidification is the process of complete or incomplete autoxidation or hydrolysis of fats and oils when exposed to air, light, moisture, or bacterial action, producing short-chain aldehydes, ketones and free fatty acids.

When these processes occur in food, undesirable odors and flavors can result. In processed meats, these flavors are collectively known as warmed-over flavor. In certain cases, however, the flavors can be desirable (as in aged cheeses).

Rancidification can also detract from the nutritional value of food, as some vitamins are sensitive to oxidation. Similar to rancidification, oxidative degradation also occurs in other hydrocarbons, such as lubricating oils, fuels, and mechanical cutting fluids.