Introduction: Mutton tallow as an important source of animal fat has considerable concentrations of saturated fatty acids and cholesterol that can cause coronary – heart diseases. The main object of this research is to investigate cholesterol distribution in different fractions of mutton tallow.Materials and Methods: The fat was extracted by dry rendering of sheep tail fat under vacuum, followed by solvent fractionation at 25, 15 and 5°C This resulted in two solid, one semisolid and one liquid fractions. Qualitative and quantitative tests consisting of fatty acid composition, melting point, iodine value, saponification value, nonsaponifiable matter content, free fatty acid content, induction period and colour measurements were carried out on tallow and its fractions.Results: The results indicated that tallow contains 101.74 mg/100 g cholesterol that has been reduced by 74.24, 59.81 and 47.29% in the first, second and the third fractions respectively, and has been increased by 45.68% in the fourth fraction relative to the original tallow.Conclusion: According to the results the amounts of cholesterol and unsaturated fatty acids in tallow fractions increased with decreasing the temperature of fractionation.