<p>Ethyl cellulose-based oleogels (ECOs) often lack sufficient mechanical strength and plasticity. To address these limitations, beeswax (BW), glyceryl monostearate (GMS), and β-sitosterol (β-ST) are incorporated into ECOs, though their overall impact on the material's properties and interactions has not been fully elucidated. These composite oleogels were then characterized based on their thermal properties, rheological behavior, and microstructure. Rheological analysis showed that GMS had the greatest effect on the viscosity of composite oleogels, and the viscosity index was 1139.71&#xa0;Pa·sⁿ. GEO had higher viscosity modulus (<i>G'</i>) and elastic modulus (<i>G''</i>). Texture analysis showed that BW increased the hardness of the composite oleogels from 13.1 N to 170.5 N, and GMS increased the hardness of the composite oleogels from 104.6 N to 515.9 N, but the addition of β-ST resulted in a decrease in the hardness of the oleogels from 19.8 N to 6.1 N. SEO-4:6 composite showed the lowest oil binding capacity (96.06%), even lower than that of single-component ECO (98.64%). FTIR analysis indicated that Van der Waals interaction played a dominant role in stabilizing the oleogels. GMS improved the thermodynamic stability of composite oleogels compared to BW and β-ST. X-ray diffraction confirmed the presence of three crystal structures of α, β, and β', which together formed the structural network of the oleogels. Among them, the crystallinity of GEOs is the largest (83.15%). Polarized light microscopy revealed the formation of a spherical crystal structure within GEOs. This study enriches the understanding of composite oleogels, particularly regarding their property regulation and structural behavior. The results provide new insights into the development of oleogels in the food industry.</p>