Although ultrasound has proven to be a very effective innovative technique of food processing, being applicable to many processes for instance in the emulsification, crystallization, homogenization, cutting, hydrolysis, extraction and microbial inactivation, among other techniques that imply ultrasounds exposure. Although this promising technique has presented innumerous advantages over conventional techniques, some food products seem to present certain alterations after exposure to ultrasound and these possible effects and consequences to products quality are often overlooked. In this review, some of the effects induced by ultrasound on food products in general and more specifically on high lipid containing food material are presented, evidencing the degradation of some compounds and the modifications in physicochemical parameters of food products.