In this study, the physicochemical properties, emulsifying capacity, moisture content and cytotoxicity of the composite material produced by transesterification reactions of the olive oil (olive oil esters) were investigated for cosmetic applications. Olive oil esters with short (S) and long (L) reaction times were studied. From the TLC-image analysis, composition ratios of the olive oil esters S were found to be 5.2, 24.1, 46.4, and 21.9% for mono-, di-, tri-glyceride, and fatty acid ethyl ester, respectively. Those of the olive oil esters L were 4.1, 24.7, 40.6, and 28.8% for mono-, di-, tri-glyceride, and fatty acid ethyl ester, respectively. The iodine value, acid value, saponification value, unsaponified matter, refractive index, and specific gravity were determined and purity tests were also carried out and normalized to establish standards and testing methods for using olive oil esters in cosmetics. To evaluate their emulsifying capacities, the O/W emulsion was prepared without surfactants and the formation of the emulsified particles were confirmed. After 5 days of applying the olive oil esters to human skin, the skin moisture retention was improved by 13.1% from the initial state. For the evaluation of toxicity on human skin cells, the olive oil esters showed 90% or more of the cell viability at 0.2-200 μg/mL. These results suggested that olive oil esters can be applied as natural/non-toxic ingredients to cosmetics industries.