Currently, vegetable oil is extracted by pressing method, solvent leaching method and aqueous enzymatic method. The aqueous enzymatic method has the advantages of high oil extraction rate, simple process and good oil quality compared with the pressing method and solvent leaching method. It also reduces the environmental pollution and improves the economic benefits. The review summarized the principle, process flow, characteristics, types of commonly used enzyme preparation, demulsification and vegetable oil quality of vegetable oil production by aqueous enzyme method, and the development trend of vegetable oil preparation by aqueous enzymatic method was prospected.