ABSTRACT Omega‐3 (ω‐3) fatty acids have a lot of healthy benefits. Both plant oil and fish oil are important sources of ω‐3 fatty acids, but their composition and functional properties are very different. Fish oil is rich in DHA and EPA, which is a well‐known supplement of fatty acid health care products, but due to the pollution and depletion of marine resources, the development of marine source food has been seriously restricted. Therefore, getting fatty acids from plant oils is a good supplement and alternative. ALA and SDA in plant oils can be partially converted into DHA and EPA, and can also exert health effects alone. In this paper, the composition, health effects and conversion relationship of ω‐3 fatty acids in plant oil and fish oil are reviewed, and the deficiencies and future trends of plant‐derived ω‐3 fatty acids are analyzed, which is helpful for the further development of plant oil.