In this work,a lipase from Candida antarctica was used for the production of mono-, di- and tri- acylglycerols for the direct esterification of n-3 polyunsaturated fatty acids (PUFA) to glycerol. A concentrate of PUFA n-3 (81.5% w/w) was prepared by chemical hydrolysis of sardine oil followed by treatment with urea. Esterification reactions were conducted using a ratio of 2.62 mol n-3 PUFA/mol glycerol in sealed glass jars, continuously agitated at constant temperature (55°C). Samples were taken at different times and the content of acylglycerols were analyzed by HPLC-ELSD. A kinetic model was developed based on a multi-substrate multi-product ping-pong mechanism to interpret the experimental data. The parameters of the model were estimated by nonlinear regression without restrictions on a MATLAB® platform (R2014a), with a coefficient of determination (R2> 0.9). The model obtained can aid in the design and scaling of reactors for enzymatic esterification reactions.