"Canola" is a combination of two words, Canadian and oil. Canola's history goes back to the rapeseed plant, but canola and rapeseed are not the same. Canola and rapeseed have different chemical compositions, therefore the names cannot be used interchangeably. Each canola plant grows anywhere from two thirds of a meter (two feet) to two meters (six feet) tall and produces groups of yellow flowers which in turn, produce seed pods about five centimeters (2 inches) long. Each pod turns brown as it ripens and contains twenty or more tiny round black or brownish-yellow seeds. Each seed contains at least 40 percent oil and so canola is classed as an oilseed.

Canola is a cool-season crop and grows particularly well on the prairies where cool night temperatures allow it to recover from hot days and limited amounts of rainfall. Growing and harvesting canola requires the same machinery used in growing cereal crops (wheat, oats and barley). This allows farmers to switch to canola production without a large cash expenditure. Canola is grown primarily in Western Canada and has become a major Canadian crop exceeding the dollar value of wheat in 1994.

Canola is recognized for its nutritional attributes as it contains the lowest level of saturated fatty acids of any vegetable oil. It is high in monounsaturated fatty acids, which have been shown to reduce blood cholesterol levels, and has moderate amounts of essential polyunsaturated fatty acids. Like all vegetable oils, canola oil is cholesterol-free. Nutritional research is confirming that the fatty profile of canola oil appears to be beneficial in preventing and treating coronary heart disease risk factors including high blood cholesterol and lipid levels as well as thrombosis.