There are various oxidation indexes, whether they are suitable for evaluation of oil stored in low oxygen and light environment still need to be studied. Edible rapeseed oil was taken as object of study, which was packaged with low oxygen transmission rate PET12/CPP20 film. Storage test was carried out under different light intensity. Oxidation indexes in common use were determined, including peroxide value(PV), K-232 and K-270 values, photosensitizer (chlorophyll), and volatile aldehyde. The results showed that, peroxide number increases rapidly in light conditions, while light also accelerated its degradation, which causes little relationship between peroxide number and light intensity; K-232 and K-270 values are almost insignificantly increases with light intensity; Caproic aldehyde and photosensitizer are significantly correlated with light intensity. It was concluded that caproic aldehyde and photosensitizer can be the main oxidation indexes of shelf life prediction of rapeseed oil packaged in middle and low oxygen penetration rate film.