The present invention relates to a process for the isolation of oryzanols from rice bran oil soap stock by (a) saponifying the oil present in soap stock with an alkali followed by neutralisation of the excess alkali, (b) converting the soap stock into anhydrous, porous soap noodles, (c) extracting the soap noodles with an organic solvent, (d) crystallising the crude unsaponifiable matter to remove impurities, (e) subjecting the residue to column chromatography to obtain an oryzanol rich fraction, and (f) recrystallising the oryzanol rich fraction using an organic solvent to obtain pure oryzanol.