Palm oil and palm olein are produced from the same plant and both are the main imported edible oil in Ethiopia. They are the most consumed diet because they have a lower price compared to other vegetable oil and also provide characteristic flavors, and textures to foods. This research was used to characterize the quality of edible palm oil and edible palm olein imported in Ethiopia and determine their shelf-life using the accelerated shelf-life testing method. The Association of Official Analytical Chemists method of analysis was used to determine the physic-chemical characteristics of the oils. The analyzed Physico-chemical values are specific gravity at 20/20oC (0.938, 0.943), refractive index at 20oC(1.462 ,1.471),insoluble,impurities(0.942,0.037)%(w/w),moisture,content(0.18,0.104)%(w/w),iodine,value(88.150,97.55)grams,of,iodine,absorbed/100g,free,fatty,acid,value(9.1,8.2)%(w/w),saponification value(198.8 and190.27)mgKOH/g,unsaponifiable matters(0.169, 0.069)% (w/w),peroxide value(1.233,1.471)meqO2/kg palm oil and palm olein respectively.Finally, the calculation shelf-life value of both edible oil has become approximately 1.37 and 1.19 years, respectively. The result obtained for most physicochemical quality parameters of the edible oils considered were within the standard range indicated by Ethiopia Standard Agency.