Abstract: A two-stage method for the preparation of polyol fatty acid polyesters is provided. The resulting polyol fatty acid polyesters are very lightly colored (i.e., colorless to slightly yellow) and have a high degree of substitution with fatty acid groups. The first stage of this two-stage method is a solvent-based esterification reaction; the second stage is an essentially solvent-free esterification reaction. In the first stage, a polyol in a solvent (e.g., sucrose in dimethylsulfoxide)) is reacted with fatty acid lower alkyl esters at relatively low temperatures using an alkaline salt catalyst. After the desired degree of esterification is obtained, the resulting partially-esterified polyol fatty acid polyesters and the solvent-containing phase are separated.