Developing products having a high nutritional value and good storage stability during freezing is a challenge. Inulin (I) and extra virgin olive oil (EVOO) have interesting functional properties. The effect of the addition of I and EVOO blends at different I:EVOO ratios (0:0, 0:60, 15:45, 30:30, 45:15, 60:0, 30:45 and 45:30) on the rheological, physical, sensory and structural properties of fresh and frozen/thawed mashed potatoes formulated without and with added cryoprotectants was analysed and compared. Addition of I and EVOO (either alone or blended) reduced apparent viscosity and pseudoplasticity producing softer systems, indicating that both ingredients behave as soft fillers. Samples with added I at the higher concentrations (≥45 g kg−1) showed lower flow index and consistency, which is related to formation of smaller I particles; microphotographs indicated that gelling properties of I depended mostly upon processing. Frozen/thawed samples were judged more acceptable and creamier than their fresh counterparts.