An extraction process for a non-aqueous hydroformylation product composition to separate an aldehyde product and to recover a hydroformylation catalyst. The process involves mixing a non-aqueous hydroformylation product composition containing a mixture of formyl-substituted fatty acid triglyceride esters derived from hydroformylating a seed oil, a transition metal-organophosphine ligand wherein the organophosphine is ionically-charged, optionally free ionically-charged organophosphine ligand, and a polar organic solubilizing agent with water and an extraction solvent having low water solubility to recover an organic phase containing the mixture of formyl-substituted fatty acid triglycerides and the low solubility extraction solvent and an aqueous phase containing the transition metal-organophosphine ligand, optional free ligand, the organic solubilizing agent, and water. Optionally, the low solubility extraction solvent can be prepared in situ in the hydroformylation step.