Oleofoam is an innovative aerated system for designing low-fat lipid-based food products. This study optimized oleofoam formulation by adjusting sheep tail stearin (STS; 15-35 wt%), glycerol monostearate (GMS; 0-10 wt%), and sorbitan monostearate (SMS; 0-10 wt%) proportions using an optimal mixture design. The best formulations giving oleogels with maximum oil binding capacity (>93.4 %) and intermediate hardness (3.0-9.4 N), and oleofoams with high overrun (56.7-92.4 %) and stability after 7 days (95.5-99.4 %) resulted from those containing 27 wt% STS and 8 wt% GMS/SMS was selected for further analysis. Mixed oleogels exhibited two crystallization peaks, with GMS/SMS as nuclei for more crystal formation, leading to greater G'LVR than STS-based control sample. After whipping, STS-GMS-based oleofoam displayed uniformly smaller air bubbles (30.42 μm) within oil network, stable against heating up to 50 °C. It also maintained ultrastability (>97 %) during 40 days, with air incorporation not affecting oxidative stability.