Near-infrared spectroscopy and multivariate analysis techniques were employed to nondestructively evaluate the rancidity of perilla seed oil by developing prediction models for the acid and peroxide values. The acid, peroxide value, and transmittance spectra of perilla seed oil stored in two different environments for 96 and 144 h were obtained and used to develop prediction models for different storage conditions and time periods. Preprocessing methods were applied to the transmittance spectra of perilla seed oil, and multivariate analysis techniques, such as principal component regression (PCR), partial least squares regression (PLSR), and artificial neural network (ANN) modeling, were employed to develop the models. Titration analysis shows that the free fatty acids in an oil oxidation process were more affected by relative humidity than temperature, whereas peroxides in an oil oxidation process were more significantly affected by temperature than relative humidity for the two different environments in this study. Also, the prediction results of ANN models for both acid and peroxide values were the highest among the developed models. These results suggest that the proposed near-infrared spectroscopy technique with multivariate analysis can be used for the nondestructive evaluation of the rancidity of perilla seed oil, especially the acid and peroxide values.