Medium- and long-chain triacylglycerol (MLCT) is a modified lipid containing medium- chain (C6-C12) and long-chain fatty acids (C14-C24) in the same triacylglycerol (TAG) molecule. It can be produced either through enzymatic (with 1,3 specific or nonspecific enzyme) or chemical methods. The specialty of this structured lipid is that it is metabolized differently compared to conventional fats and oils, which can lead to a reduction of fat accumulation in the body. Therefore, it can be used for obesity management. It also contains nutritional properties that can be used to treat metabolic problems. This review will discuss on the health benefits of MLCT, its production methods especially via enzymatic processes and its applications in food industries.