The paper reports the proximate evaluation of dryCyperus esculentus tubers and the characterization of the oil fraction. The proximate composition was 3.63 ± 0.28, 2.48 ± 0.33, 12.88 ± 0.91, 2.68 ± 0.08, 29.67 ± 0.47 and 52.29 ± 1.46% for moisture, ash, crude fibre, crude protein, oil and carbohydrate, respectively. The quality of the oil extracted by Soxhlet was assessed in terms of acid value, iodine value, saponification value, free fatty acid content, specific gravity, melting point, solidification point and heat of combination. These implicated the oil as a lauric acid-grade oil which was non-acidic, stable, non-drying and of very low unsaturation. The value of the heat of combustion came within range for edible oils and a subzero solidification point qualified it for use in oils and oil products required to remain uniformly liquid at refrigeration temperatures.