Rice bran as a by-product of rice processing can be used to produce oil. The main objective of this study was to select appropriate enzymes for aqueous enzymatic extraction (AEE) and evaluated the quality of rice bran oil (RBO) obtained by AEE and solvent extraction (SE). In addition, the microstructure of rice bran before and after different extraction processes were also observed. The results showed that Alcalase 2.4L was the most effective in releasing RBO. Moreover, iodine value and saponification value in the AEE-extracted oil (AEEO) were found to be higher than the SE-extracted oil (SEO). AEEO with lower acid value and peroxide value was considered to be a high quality and the content of wax and phospholipid in AEEO were lower, which could simplify the refining steps. Additionally, AEEO exhibited a higher content of unsaturated fatty acids (76.31%), vitamin E (1004.42 mg/kg), sterols (7749.44 mg/100 g), squalene (2962.56 mg/kg) and oryzanol (2.43%). In comparison to the SEO, AEEO was found to have lower crystallization and melting points. Scanning electron microscope (SEM) results showed the destruction of cell walls and the decrease of substances in the cell by AEE. In general, the results of this study showed improvement in the quality of the AEEO and provided necessary data support for green extraction of RBO in food industry.