Currently monoglyceride and diglyceride are representing important products, as they have numerous applications such as modifying agents in food and pharmaceutical industries. In this work, the production of these economically value added compounds by estrifying the fatty acids with the glycerol is presented. Effects of various reaction parameters were optimized to obtain high yield of mono, di- and triglycerids. The effects of temperature (180℃ to 260℃), ZnCl₂ catalyst concentration (0.1%, 0.2%, 0.3%), glycerol to fatty acids molar ratio (1:1, 1:2, 1:3, 3:1), agitation speeds (200, 500, 1000 rpm), type of reaction system (opened and closed) and type of fatty acids including oleic and palmatic acids on esterification efficiency of fatty acids were investigated. The optimum conditions of esterification reaction were at temperature 195℃, molar ratio 1:1, amount of catalyst 0.3% Zncl₂, and agitation 500 rpm. Analysis of yield showed that at the optimum conditions mondi and triglycerids were produced in high purity, up to 99%. Infrared spectroscopy IR and thin layer chromatograph TLC proved that the final product contains mono, di- and triglycerides.