Food hydrocolloids such as proteins and polysaccharides have recently become a novel tool for structure formation in liquid oil thereby creating oleogels. We have previously demonstrated that strong oleogels with high oil binding capacity, and improved rheological properties can be prepared using freeze-dried foams stabilized with pea and faba bean protein and canola oil containing small amount of high melting monoglyceride (MAG) and candelilla wax (CW). However, due to the inability of the oleogels to hold structure and stabilize air during batter preparation, cakes prepared using the oleogels displayed high batter density and poor textural properties compared to a conventional batter or cake prepared with shortening. The present study explored the use of oleofoams obtained by whipping oleogels using a rotating beater kitchen mixer (30 minutes) for baking. Oleogels were prepared by adding canola oil with and without of MAG (0.5-3wt%) to freeze-dried pea and faba bean protein stabilized foams (pH7). Study showed that the presence of MAG was necessary for the stability of oleofoam. Oleogels consist of 3%MAG formed the most stable oleofoams with highest overrun (170%), foam stability (86% of the original volume retained after 1 month) and storage modulus. Air incorporation in the batter was increased due to oleofoam (batter specific gravity decreased by 10-15% when oleofoam was used). Textural properties of the cakes prepared with oleofoam also became comparable to that of shortening cakes. Analysis of batter and cake microstructure also revealed that oleofoams were better alternative to shortening than oleogels.