With the proposal of replacing toxic solvents with non-toxic solvents in the concept of green chemistry, the development and utilization of new green extraction techniques have become a research hotspot. Phenolic compounds in edible oils have good antioxidant activity, but due to their low content and complex matrix, it is difficult to achieve a high extraction rate in a green and efficient way. This paper reviews the current research status of novel extraction materials in solid-phase extraction, including carbon nanotubes, graphene and metal–organic frameworks, as well as the application of green chemical materials in liquid-phase extraction, including deep eutectic solvents, ionic liquids, supercritical fluids and supramolecular solvents. The aim is to provide a more specific reference for realizing the green and efficient extraction of polyphenolic compounds from edible oils, as well as another possibility for the future research trend of green extraction technology.