An EDTA-free mayonnaise having excellent oil oxidation stability can be prepared by incorporating an effective amount of reduced grape juice in combination with a source of acetic acid and egg protein. The invention relates to a method of preparing an EDTA-free mayonnaise, said method comprising incorporating into the mayonnaise reduced grape juice (such as Balsamic vinegar of Modena) in an amount providing 5-2,000 pg gallic acid equivalents per milliliter of aqueous phase; a source of acetic acid in an amount providing 0.2-15% acetic acid by weight of the continuous aqueous phase; and egg protein in an amount of 0.02-4% by weight of the mayonnaise.