Crude palm oil was processed by continuous supercritical carbon dioxide. The process reduces the contents of free fatty acids, monoglycerides and diglycerides, certain triglycerides, and some carotenes. The refined palm oil from the process has less than 0.1% free fatty acids, higher carotene content, and low diglycerides. Solubility of palm oil in supercritical carbon dioxide increased with pressure. A co-solvent improves the refining process of palm oil.