Canola Oil (Best Option)
1:1 (1 cup olive oil = 1 cup canola oil)Canola oil is a neutral-flavored oil with a fatty acid profile similar to olive oil, making it an excellent substitute in doughnuts. It provides the necessary fat to create a tender crumb and helps retain moisture during frying.
When substituting, use the same volume as olive oil. Ensure the oil is fresh to avoid off-flavors. Canola oil's high smoke point also supports proper frying without breaking down.
The final doughnuts will have a slightly lighter flavor profile but similar texture and moisture, making canola oil the closest match to olive oil in this application.