An integrated process for the enzymatic alcoholysis of lipids and the separation of the products by supercritical fluid extraction has been designed and tested with a commercial vegetable oil. The optimization of the reaction conditions and the fractionated separation in a cascade of three separators, which were operable at different temperatures and pressures, have been tested. The fractions were analyzed by HPLC for their content of fatty acid esters and different acylglycerides.