The aromatic ring substitution reaction of 3-methyl phenol with methyl α-eleostearate under acidic conditions was carried out. The product was analyzed to find out if 3-methyl phenol was subjected to the ring substitution reaction with methyl α-eleostearate at its conjugated double bonds. Up to two molecules of 3-methyl phenol were addition-reacted with the conjugated triene of the eleostearyl group of methyl α-eleostearate. The 4-position of 3-methyl phenol was preferentially subjected to the cresol's ring substitution. When 3-methyl phenol was reacted with a relatively large amount of methyl α-eleostearate, the substitution reaction occurred at the 6- as well as 4-position of 3-methyl phenol, to yield a methyl α-eleostearate dimer having 3-methyl phenol units in its molecule. The above results were confirmed by infrared (IR), nuclear magnetic resonance (NMR), and high-speed liquid chromatographic (HLC) analyses, and the results of a previous paper connected with reaction of 3-methyl phenol were supported by the results of this paper.