Candelilla wax (CW) is a well-known oleogelator that displays tremendous oil-structuring potential. Lecithin acts as a crystal modifier due to its potential to alter the shape and size of the fat crystals by interacting with the wax molecules. The proposed work is an attempt to understand the impact of differently sourced lecithin, such as sunflower lecithin (SFL) and soya lecithin (SYL), on the various physicochemical properties of CW and rice bran oil (RBO) oleogels. The yellowish-white appearance of all samples and other effects of lecithin on the appearance of oleogels were initially quantified by using CIELab color parameters. The microstructural visualization confirmed grainy and globular fat structures of varied size, density, packing, and brightness. Samples made by using 5 mg of SFL (Sf5) and 1 mg of SYL (Sy1) in 20 g showed bright micrographs consisting of fat structures with better packing that might have been due to the improvised crystallinity in the said samples. The FTIR spectra of the prepared samples displayed no significant differences in the molecular interactions among the samples. Additionally, the slow crystallization kinetics of Sf5 and Sy1 correlated with better crystal packing and fewer crystal defects. The DSC endotherm displayed two peaks for melting corresponding to the melting of different molecular components of CW. However, all the formulations showed a characteristic crystallization peak at ~40 °C. The structural reorganization and crystal growth due to the addition of lecithin affected its mechanical property significantly. The spreadability test among all prepared oleogels showed better spreadable properties for Sf5 and Sy1 oleogel. The inclusion of lecithin in oleogels has demonstrated an enhancement in oleogel properties that allows them to be included in various food products.