Flaxseed oil, also known as flax oil or linseed oil, is made from flax seeds that have been ground and pressed to release their natural oil. This health-promoting oil has a wide variety of uses, ranging from cooking to skin care. Humans have used flaxseed oil for thousands of years, and it has a variety of health benefits. Manufacturers extract flaxseed oil from flaxseeds. People can use the oil in cooking and baking.