Abstract: Steroid ester is formed by the reaction between a carboxylic component and cholesterol or methylsterol having two methyl groups attached to the 4-position of the sterol skeleton. The carboxylic component is an .alpha.-branched carboxylic acid having a general formula: ##STR1## (where R.sup.1 is an alkyl group having at least two carbon atoms, and R.sup.2 is an alkyl group having at least four carbon atoms) or a reactive derivative of said .alpha.-branched carboxylic acid. The steroid ester is high in resistance to hydrolysis, exhibits an excellent water-embracing property and, thus, provides an effective oil phase material or base material of cosmetics or ointments.