Fatty acid esters of ascorbic acid are prepared by a process in which a homogeneous mixture of(a) ascorbic acid,(c) concentrated sulfuric acid having a concentration of not less than 96% and(c) a methyl or ethyl ester of a fatty acid of 12 to 18 carbon atomsis reacted at from 20.degree. to 50.degree. C.Using the novel process, the fatty acid esters of ascorbic acid, in particular ascorbyl palmitate, which are very desirable antioxidants are obtained by a procedure which is technically simpler and hence cheaper than the conventional processes, but in equally good yields.