This study investigated how extraction temperature (60, 90, and 120℃) affected the yield and functional properties of mealworm (Tenebrio molitor) larvae oil (MO). Extraction yield was comparable at 60 and 90℃ but declined at 120℃, while oil purity consistently exceeded 99.5%. MO was rich in unsaturated fatty acids, especially oleic and linoleic acids, with the highest total unsaturated fatty acid content observed at 90℃. Tocopherol content peaked at 60℃, suggesting temperature-sensitive preservation of these bioactive compounds. Antioxidant activity was greatest at 90℃ and correlated with flavonoid content. Oxidative stability during storage was enhanced at 4℃ but diminished at 25℃, with higher antioxidant levels improving this stability. MO demonstrated dose-dependent antibacterial activity against Staphylococcus aureus, Staphylococcus epidermidis, and Cutibacterium acnes. Furthermore, MO showed no cytotoxicity in RAW 264.7 cells and significantly inhibited both nitric oxide production and tyrosinase activity. These findings indicate that MO holds promise as a functional ingredient for food and cosmetic applications, with 90℃ being optimal for overall functionality and 60℃ for maximizing tocopherol preservation.