Lipid composition of three rice varieties (Koshihikari, Dongjin, and Singeumo) with varying palatability was investigated. Results from both Toyo taste and sensory analyses indicated that Koshihikari, Dongjin, and Singeumo have high, medium, and low eating qualities, respectively. Koshihikari was also found to have better texture properties and higher Mg/K ratio, indicating a better eating quality. Major fatty acids found in both starch and non-starch lipids of rice were linoleic, oleic, and palmitic acids. Dongjin contained the highest non-starch lipid content, but also had the lowest starch lipid level. Oleic acid concentrations were higher in both the high-palatable Koshihikari and low-palatable Singeumo than in Dongjin, whereas Dongjin showed high levels of palmitic and linoleic acids. Squalene, campesterol, and cycloartenol contents were substantially higher in Koshihikari than in the rice varieties with lower palatability. These findings demonstrate that rice concentrations of plant sterols, particularly cycloartenol and squalene, appear to have a positive effect on its palatability.