In present study, application of basil seed gum (BSG) and tracaganth gum (TG) as fat replacers were studied in low fat mayonnaise formulation. Hence, sesame seed oil (SSO) was substituted common vegetable oils at the levels of 20 and 30%. Fat was partially substituted by BSG at levels of 2.5 and 4.5% and TG at levels of 1.6 and 2.5%. FF (full fat or control with 78% oil), F1 (30% SSE, 1.6% TG), F2 (20% SSE, 2.5% TG), F3 (30% SSE, 1.6% TG and 2.5% BSG), F4 (20% SSE, 2.5% TG and 2.5% BSG), F5 (30% SSE, 1.6% TG and 2.5% BSG) and F6 (20% SSE, 2.5% TG and 4.5% BSG) are treatment used in this study. Physicochemical, antioxidant and sensory analysis of FF and Low fat treatments were evaluated. Results indicated that BSG and TG beside fat replacer and low calorie content roles can improve the viscoelastic behavior and consistency of low fat mayonnaise with their suitable water absorption properties. Also, incorporation of SSO can improves the antioxidant and anti-rancidity traits and brings health-promoting attributes to the final product because of the presence of phenolic compounds and their antioxidant properties. In view of sensory attributes, F4 showed similar textural characteristics as those of control. Likewise, all treatments have acceptable pH and acidity and no creaming was observed. According to the results of present study, it can be concluded that BSG, TG and SSOare suitable substitutions for conventional high fat mayonnaise without any adverse effects on quality attributes of mayonnaise. Nearby, employing SSE can both prevent rancidity and include antioxidant effects to mayonnaise, so that such mayonnaise can be accounted as a functional food.