Epidemiological and clinical studies have found that consumption of saturated animal fats (butter, cream, cheese, red meat, processed meat foods, etc) and higher risk for heart diseases are connected. Medical practitioners in the USA were the first to raise the issues of dietary recommendations for fats 40 years ago. But in the last decades numerous prospective epidemiological investigations of dietary fat and coronary disease have been inconsistent. Some investigations showed significant positive association between saturated fat and disease, but some other studies did not. Lately, large prospective epidemiological studies offered new evidence. Studies showed that elevated levels of lipids [total cholesterol, low-density lipoprotein cholesterol (LDL), and triglycerides] are widely recognized as risk factors for cardiovascular diseases (CVDs). Oxidized LDL and lipid peroxidation mechanisms are associated with oxidative stress and endothelial dysfunction leading to atherosclerotic damage. Atherosclerosis is a form of chronic inflammation resulting from interaction between oxidized lipoproteins, monocyte-derived macrophages, T cells, and the normal cellular elements of the arterial wall. This review examines the latest studies and reviews investigating the association between dietary fat intake, especially saturated fats, and increased risk to cardiovascular diseases (CVDs), various types of cancer, obesity and type 2 diabetes. The review explores the dietary guidelines that have almost universally advocated reducing the intake of total and saturated fat, and replacement with Polyunsatuerated fatty acids (PUFAs) and Monounsaturated fatty acids (MUFAs). Also, contains critical presentations of the medical literature that is still full of articles arguing opposing positions and data of studies where consumption of total fats were not associated with risk of CVDs, or myocardial infarction. Lately, some experts insist on the inherent complexity of human diets, methodological considerations, and the role of bias and confounding. While latest studies argued that it is the type of saturated fats we eat that can affect our risk of chronic diseases.