The effect of temperature and concentration of catalyst on palm oil ethanolysis was studied in the range from 60 to 80°C and 0.2 to 1wt% of NaOH based on the mass of palm oil. The highest conversion of palm oil and yield to methyl esters were 100% and 96%, respectively, at 70°C and 1wt% of NaOH, after 60 minutes of reaction. Temperature influence on the concentration of raw materials and products was important only during the first ten minutes of reaction. Catalyst concentration from 0.2wt% to 0.5wt% had a positive effect on the yield to ethyl esters. A second order kinetic model that includes the effect of temperature and catalyst concentration described adequately palm oil ethanolysis, as was validated through the Fisher¿Snedecor test of unbiased variances. Parameters of the palm oil ethanolysis and methanolysis kinetic models were compared, showing similar behavior and magnitude order.