The benefits of flaxseed oil have been recognized since as early as 3,000 B.C. Flaxseed oil contains Omega-3 fatty acids, Lignans, and soluble and insoluble fiber. Omega-3 fatty acids are essential for a healthy heart. Lignans are antioxidants. Fiber is good for your heart and helps regulate your digestive system. Flaxseed oil may also protect against some types of cancer.