Extra virgin olive oil (EVOO) is rich in plant chemicals called polyphenols, which combat the oxidative stress and inflammation that are typical in cancer. EVOO has powerful effects against several cancers including breast, prostate, liver, colon, and pancreatic cancer, multiple myeloma, myeloid leukemia, cutaneous squamous cell carcinoma, and melanoma. Not all olive oils are created equal when it comes to the level of the important polyphenol oleocanthal, which creates a slight burning sensation in your throat.