The physical characteristics of lipids are important determining factors for appropriate food applications. The objective of this research is to study the physical characteristics, especially thermal (melting and crystallization) behavior, smoke point and solid fat content (SFC), of structured lipids (SLs) produced by interesterification of coconut and palm oils catalyzed by two commercial lipases (Thermomyces lanuginosa imobil/TLIM and Novozyme 435). The results showed that SLs produced by 5 hours of interesterification had physical characteristics differing from the original blended lipids. SLs obtained by both enzyme systems exhibited a higher and wider range of melting temperature (higher enthalpy value, ΔH), lower and wider range of crystallization temperature (higher ΔH), lower smoke point, and lower SFC at 0°C and 10°C than those of their blended lipid counterpart. Furthermore, TLIM lipase produced SLs with a higher and wider range of melting temperature, lower and wider range of crystallization temperature, lower smoke point and SFC at 0°C and 10°C compared to those produced by Novozyme 435. The SLs produced have the potential to be used as an ingredient in refrigerated foodstuffs and more plastic than the original oil.