The present invention relates to a method for assessing the purity of vegetable oils by means of THz time-domain spectroscopy, comprising the steps of: measuring the THz time-domain spectra of standard vegetable oils to establish a spectral database; measuring the THz time-domain spectrum of vegetable oil to be detected; analyzing the purity of the detected vegetable oil based on the pre-built database. The present invention also relates to an apparatus for assessing purity of vegetable oil by means of THz time-domain spectroscopy, comprising: spectrum measuring device for measuring time-domain waveforms of THz pulses before and after transmitting the vegetable oil held in a container by transmission approach, or directly measuring time-domain waveforms of THz pulses before and after reflecting from the vegetable oil by reflection approach; and data processing device for extracting physical parameters of the vegetable oil in THz region according to the time-domain waveforms. Compared with the prior art, the method according to the present invention is easy, rapid and quantitative.