In this work, spouted bed drying of papaya seeds was studied aiming oil production. The first important conclusion is the necessity of a pre-drying step to obtain a spouted bed dryer operating in stable conditions. Despite of this behavior, the spouted bed drying was a good alternative for papaya seeds processing, aiming the subsequent oil extraction. The applied conditions (drying time, temperature, and air velocity) contributed to the improvement of papaya seed oil extraction, no affecting the composition of fatty acids. The fatty acids presented in the oil have boiling point far above the temperatures used in this study. Thus, the temperatures used are not sufficient to cause volatilization of the oils. A statistical polynomial quadratic model was obtained to represent the dependence of PSOY in relation to the temperature, air drying velocity and drying time. The maximum papaya seeds oil yield was 26.50 g/100 g, obtained in under the following experimental conditions: air temperature of 70 °C, air velocity of 10.50 m s−1 and drying time of 4 h. The papaya seeds oil presented about 70 g/100 g of oleic acid. The fatty acids found in the profile are classified as ω–3, ω–6 and ω–9. These are considered by the medical literature as important for preventing various types of diseases. It is recommended that they be inserted in the diet since they are not synthesized by the human body.