Walnut Oil helps in lowering the cholesterol level. Walnuts have always been known as a great source of Omega-3 fatty acids. They were consumed as nuts since time immemorial. Over the last few decades we have come across the benefits that walnut oil has for our skin, hair and health as well. Walnut oil is high in both vitamins and minerals. It works wonders on the skin and is highly recommended for people who want a flawless and ageless skin. Promising Benefits of Walnut Oil. Can boost skin health. The nutrients in walnut oil may promote good skin health. May decrease inflammation. Helps lower blood pressure. Improves blood sugar control. Improves cholesterol levels. May have anticancer effects. Easy to add to your diet.