The study aimed at producing a high value fish oil and efficient utilization of Basa-fish by-products as well. The study was conducted from August to November 2014 at College of Aquaculture and Fisheries of Can Tho University with four experiments: (i) the effects of temperature and the rate of NaCl solution of hydrated process; (ii) the effects of temperature, the volume of NaOH and concentration of NaOH of neutralized process; (iii) the effects of antioxidants on quality of fish oil during storage period. The results showed that the optimum conditions for the highest values of the responses as hydrated temperature 45oC - 55oC and the rate of NaCl solution 4%, neutralized temperature 65oC – 75oC and the concentration of 8% NaOH solution exceeding 30% in comparison with that in the theoretical formula of neutralization processes, produced fish oil with the lowest acid parameter (0.32 mg KOH/g). Peroxide value of fish oil stored with extracted ginger was lower than fish oil with BHT.