Flaxseed has recently gained attention as a functional food. In this paper, physicochemical analyses of flaxseed and its oil were performed. Crude fat content ranged from 37~43%, moisture 0.2~6.8%, carbohydrate 30~35%, crude protein 18~23%, and crude ash 3~4%. Flaxseed is also an important source of dietary fiber. The TDF(total dietary fiber) contents of the flaxseed samples were 28~31%, and the SDF(souble dietary fiber) content of roasted flaxseeds was higher than that of raw flaxseeds. The major minerals found in flaxseed were calcium, potassium, magnesium, and phosphate. The flaxseeds were rich in γ-tocopherol with 234.3㎎/㎏ in raw brown flaxseed and 134.1㎎/㎏ in raw gold flaxseed, respectively. Roasted flaxseeds showed slightly lower vitamin and amino acid contents than those of the raw samples. The iodine, saponification, and acid values of brown flaxseed oil were 204.1g/100g, 193.6㎎/g, and 1.59㎎/g, and for gold flaxseed oil were 203.0g/100g, 189.9㎎/g, and 2.35㎎/g, respectively. α-Linolenic acid(ALA, C18: 3n-3) was highly concentrated in the flaxseed oil, which constituted about 55.5~56.1% of total fatty acids. Thus, flaxseed oil is a good source of omega-3 fatty acids and beneficial for the heart. Flaxseed contains high levels of dietary fiber including lignans, as well as minerals and vitamins, which may have antioxidant actions and help protect against certain cancers.