In the presence of methyl acetate triglycerides such as vegetable oils are transformed simultaneously into the corresponding fatty acid methyl esters and triacetyl glycerol (triacetin). The reaction, catalyzed by lipases, was studied as a function of some critical parameters, such as type of catalyst, enzyme hydration and immobilization support. The aim of the work was to achieve a conversion of the triglyceride as high as possible and to maximize the yield of the triacetin, the reaction end point. It was found that by using the immobilized lipase from Candida antarctica yields as high as 80% of both fatty acid esters and triacetin could be achieved. These results were obtained by carefully controlling the amount of water present in the reaction medium and the hydration level of the enzyme macromolecule. (C) 2010 Elsevier Ltd. All rights reserved.