Rice (Oryza sativa L.) bran contains valuable nutritional constituents, which include lipids with health benefits. A germplasm collection consisting of 204 genetically diverse rice accessions was grown under field conditions and evaluated for total oil content and fatty acid (FA) composition. Genotype effects were highly statistically significant for lipid content and FA profile (P < 0.001). Environment (year) significantly affected oil content (P < 0.05), as well as stearic, oleic, linoleic, and linolenic acids (all with P < 0.01 or lower), but not palmitic acid. The oil content in rice bran varied relatively strongly, ranging from 17.3 to 27.4% (w/w). The major FA in bran oil were palmitic, oleic, and linoleic acids, which were in the ranges of 13.9-22.1, 35.9-49.2, and 27.3-41.0%, respectively. The ratio of saturated to unsaturated FA (S/U ratio) was highly related to the palmitic acid content (r(2) = 0.97). Japonica lines were characterized by a low palmitic acid content and S/U ratio, whereas Indica lines showed a high palmitic acid content and a high S/U ratio. The variation found suggests it is possible to select for both oil content and FA profile in rice bran.