Over the years, there has been concern about the changes taking place in heated oils and the effects on individuals consuming them. The present study investigated the effects of a diet containing thermally oxidized soybean oil (TO) or TO supplemented with probiotic Bifidobacteria (TO+Pro) on the serum lipid profile and oxidative stress biomarkers of male rats. The data showed several indicators of oil deterioration after thermal processing, including high levels of % free fatty acid (FFA; 15-fold), acid value (AV; 14-fold), peroxide value (8-fold), p-anisidine value (AnV; 39-fold), total oxidation value (TOTOX; 19-fold), thiobarbituric acid-reactive substances (TBARS) value (8.5-fold), and trans-FA (TFA) isomers (2.5-fold) compared to the control. The rats that were fed a diet containing TO showed a significant (p < 0.05) decrease in body weight gain, food efficiency values, and liver weight. Furthermore, the total cholesterol and low-density lipoprotein (LDL) levels were increased, while the high-density lipoprotein (HDL) level was decreased in blood serum samples. High levels of TBARS, superoxide dismutase (SOD), and glutathione reductase (GR) activities were also detected in the livers, kidneys, testes, and brains of rats. Interestingly, a diet containing TO+Pro restored all biological parameters to their control values. The present data suggested that Bifidobacteria may ameliorate the serum lipid profile and oxidative stress biomarkers that are generated in animals that are fed a TO diet.