Oil extracted from fish waste is considered as a value‐added product. The effect of postmortem processing times (0, 3, 6, and 9 hr) and blanching methods (sodium chloride, pH shift, and high temperature) on the extracted oil from rainbow trout viscera was studied. Blanching was applied six hours prior to oil extraction to counteract the effects of delayed processing time and increasing the oil stability. Autolysis by digestive enzymes is main culprit of higher contents of free fatty acids, lipid oxidation, saponified compound, and saturation degrees in case of postponed oil extraction. Results showed that PV was increased after pH shift and high temperature blanching, while there were no significant differences by using salt blanching. The lowest amount of TBA, AV, Totox, and saponification index was observed in salt blanched treatment. The colorimetric values including L *, b *, and whiteness index were decreased after pH shift, whereas redness was increased. Unfavorable coloration could be attributed to the lipid oxidation process that giving rise nonvolatile decomposition products with carbonyl groups. Our results indicated that salt blanching could reduce the effects of delayed processing time and lead to higher quality value‐added product from rainbow trout viscera.