Production of oilseeds is very important in Bangladesh, since a lot of foreign exchange is spent for importing edible oils and oilseeds to meet domestic demand. Up-to-date and nationally representative data and information are scarce. Therefore, this paper analyses the profitability and comparative advantage of oilseed production in Bangladesh. It covers a total of 1,980 farms collected from 11 oilseed growing districts, namely Manikgonj, Faridpur, Tangail, Mymensingh, Rajshahi, Pabna, Dinajpur, Noakhali, Luxmipur, Comilla and Jessore. Four oilseed crops, namely mustard, sesame, groundnut and soybean are considered for the study. The production of local variety sesame (Til-6) and soybean is marginally profitable to the farmers compared to competing crops except Aus rice. The country has comparative advantage in producing oilseeds for import substitution since the DRC estimates for selected oilseed crops are less than unity. However, mustard production is not so advantageous for Bangladesh since the value of DRC is close to unity.