Methyl fructoside oleic acid polyester(MFPE), fructose-based sugar polyester, was synthesized by solvent-free, soap-free transesterification of methyl oleate with methyl fructoside(MF) as a sugar starting material in the presence of conventional potassium carbonate basic catalyst. Methyl fructoside was found to be an effective sugar starting material, because of its low softning point, high heat stability, high miscibility, and high reactivity than other sugars. Yield 98% of purified MFPE based on initial weight of MF was obtained at 1:5 of the molar ratio of methyl fructoside to methyl oleate, 2%(w/w) of potassium carbonate catalyst content, 20~200mmHg of reduced pressure and 180℃ of reaction temperature. MFPE structure was confirmed by infrared and proton nuclear magnetic resonance spectroscopy. Physical properties of methyl of fructoside oleic acid polyester such as viscosity, HLB, solubility, color, refractive index, specific gravity, and density were similar to physical properties of sucrose polyesters(SPE) and vegetable oils. Then, it was elucidated that MFPE was sufficient to replace the SPE and conventional oils.