Egg yolk was replaced with sesame–peanut meal milk in mayonnaise in the levels of 0, 25%, 50%, 75%, and 100%. The pH was significantly decreased by increasing the percentage of replacement in all three kinds of replacement ( p < .05). However, over the whole period, no significant difference was observed in the acidity. The mayonnaise samples, except for the replacements of 50%, were desirable in terms of physical and thermal stability. A significant decrease was seen in lightness ( L *) and yellowness ( b *) of the samples as a result of an increase in the percentage of replacements ( p < .05). In the power law model, the flowing index amount ( n ) of all samples was in the domain between zero and one, which served as evidence for pseudoplastic behavior (dilatant with shear) of mayonnaise samples. The positive results are employing suitably the sesame–peanut meal milk instead of egg yolk, decreasing the cholesterol of mayonnaise and increasing its nutritional value, proposing mayonnaise factories to make use of the meal of the oil extraction factory as emulsifier, which lead to a decrease in overall costs of producing these products.