In the present study, the effect of treatment of rice bran with solvent or microwave heating and then storage of the stabilized bran on the production of free fatty acids (FFA) was examined. Also aqueous enzymatic extraction of the stabilized rice bran was thereafter investigated. Results revealed that receiving the bran directly in  hexane is an inefficient method because the FFA of the oil reached 10.5% within 30 min after milling. The microwave stabilized rice bran is a very successful method of stabilization as the FFA of the oil reached 4.17% after storage for 12 month. All enzymatic treatments resulted in increase in % extracted oil over the non enzymatic treated rice bran. The oil resulting from protease and macerozyme treated bran showed FFA less than 5%. Unfortunately, α-amylase treatment resulted in oil with high FFA between 15-17%. Conditions recommended for enzyme treatment are : treatment with protease and macerozyme under the following conditions: 2% enzyme concentration, 1:10 rice bran : water ratio at 1 and 3 hrs of incubation. These conditions yielded ca. 31-32% extracted oil compared to 19.54% extracted oil from  untreated rice bran (control). Whereas, the FFA% of oils resulting from these treatments with protease and macerozyme reached 3.33, 3.25% and 3.48, 3.52%, respectively, compared to 2.33% FFA for untreated oil (control).