The two most important essential fatty acids are linolenic acid (also known as an omega 3 fatty acid) and linoleic acid (also known as an omega 6 fatty acid). The omega number describes where the important carbon atom is located on the fat molecule. If this atom is third from the end, the fatty acid is known as an omega 3 fatty acid (omega 3 is the last letter of the Greek alphabet and means "end"). If it's sixth from the end, it's known as an omega 6 fatty acid (vegetable oils, nuts, and seeds). Omega 3 fatty acids especially have a valuable role in reducing the risk of heart disease and building healthy brain cells. The standard American diet (SAD) is sadly deficient in omega 3s, found mainly in plant foods (especially canola oil and flax oil, soybeans, and walnuts) and seafood.
Wait, are we talking about unrefined canola oil that you paid a few extra $$$ for mail order, or are we talking about the filthy crap in the grocery store that is bleached, fried and sometimes hydrogenated to increase the shelf life? In any even canola oil does have n-3 fats, but it does have more n-6's than n-3's.