Yes, oatmeal is low in cholesterol. In fact, old-fashioned or rolled oats contain no cholesterol. Moreover, oats are known to be heart-healthy and can contribute to lowering your LDL 'bad' cholesterol levels without affecting your HDL 'good' cholesterol. This is because oats contain beta-glucan, a type of soluble fiber that can reduce the absorption of cholesterol in your bloodstream. It's recommended that adults get at least 25 to 38 grams of dietary fiber per day.