With the development of the new tea drink market and increasing public attention to health, low-saturated fat aerated emulsions are becoming more popular. However, low saturation levels can easily lead to poor whipping capabilities. This study systematically investigated the mechanisms by which multiple enzyme-modified palm olein, used as a low-saturated fat base in aerated emulsions. After enzyme-catalyzed interesterification, fat crystallization properties were significantly enhanced, primarily through the promotion of fat crystal-membrane interaction effects between fat globules, which in turn, improved whipping capabilities. Additionally, it was found that the DAG form of palm olein easily adsorbed casein, resulting in a significant decrease in serum protein concentration, which weakened overrun due to insufficient air encapsulation. However, the whipping time was significantly reduced. Finally, by combining interesterified fats with DAG, the foam properties were greatly improved. This study provides important guidance for the industrial application of interesterified fats and DAG in aerated emulsions.