In this study, carbohydrate-based low-fat spreads were prepared using 4αGT-modified rice starch, olive oil, egg yolk, and some minor ingredients. Due to the unique molecular structure of the modified starch, the formulated emulsions could form highly stable emulsion gels after cold gel setting when 15% and 20% of modified starch pastes were used in the formulation, whereas native rice starch and maltodextrin did not produce enough stability. The formulated spreads exhibited varied textural properties with acceptable spreadability depending on the modified starch paste concentration and the amount of oil used. Also, the formulated spreads showed relatively high thermoreversibility, but their melting temperature was higher than that of a commercial margarine. Thermoreversible 4αGT-modified starch-based low-fat spreads could be developed as functional products to assist intake of a healthy diet.