Cocoa butter equivalents (CBEs) are fats that can mimic the properties of cocoa butter by having similar triacylglycerols profile to cocoa butter. The purpose of this study was to produce a CBE from illipe butter and palm mid-fraction by enzymatic interesterification. The major TAGs of the interesterified product (IP) were 1 palmitoyl-2-oleoyl-3-stearoylglycerol (POS) at 42.7 1.0%, 1,3-distearoyl-2 oleoylglycerol (SOS) at 29.9 0.3%, and 1,3-dipalmitoyl-2-oleoylglycerol (POP) at 19.1 1.0% which were very similar to CB. Thermal behavior, polymorphism, solid fat content, and crystal microstructure of IP were analyzed and was shown to match CB as well. IP was formulated into dark and white chocolates and their textural, rheological, particle size distribution and fat bloom properties analyzed. The analysis results showed that properties of the chocolates made from IP and CB were similar and therefore suggested that IP is compatible with CB and can be used in chocolate as a CBE.