Flaxseeds are known for their many health benefits, which include providing a hearty dose of protein and fiber, reducing appetite and aiding in weight control. Given their stellar nutrient profile, it’s no wonder that flaxseed oil is also jam-packed with similar health benefits. Flaxseed oil, also known as flax oil or linseed oil, is made from flaxseeds that have been ground and pressed to release their natural oil. This health-promoting oil has a wide variety of uses, ranging from cooking to skincare.