Several cardiometabolic disorders are risk factors for cardiovascular diseases (CVDs), and prevention is imperative in reducing the burden of these diseases on the healthcare system. Although novel high-oleic acid oils (HOOs) are now commonly used for high-temperature frying in both foodservice and the manufacture of processed foods, there are still limited data regarding their effects on CVD risk. This narrative review aims to clarify these effects by comparing HOOs with saturated fatty acid (SFA)-rich and polyunsaturated fatty acid (PUFA)-rich oils, first regarding their physicochemical properties and then concerning their effects on CVD risk factors using recent randomized controlled trials (RCTs). Overall, although HOOs are more stable than PUFA-rich oils, they do not have the same high-temperature stability as SFA-rich oils. RCTs demonstrate that HOO consumption improves the plasma lipid profile compared with SFA-rich oils while showing similar effects to those of PUFA-rich oils on CVD risk factors. Finally, the current literature lacks information on the actual consumption of HOOs, their long-term effects on cardiometabolic health, and the impact of prolonged heating of these oils on CVD risk factors. In sum, the short-term intake of HOOs may be beneficial for cardiometabolic health; however, more research is needed.