Flaxseed oil comes from ripened flaxseeds that manufacturers have cold pressed to extract the oil. Another name for flaxseed oil is linseed oil. Flaxseed oil is commercially available in both capsule and liquid form. It contains a type of omega-3 fatty acid called alpha-linolenic acid (ALA). The body uses ALA from flaxseed oil and converts it in small amounts to other fatty acids. Omega-3 fatty acids are vital to a person’s physical and mental health.