The study, published in the journal Gut, was designed to investigate the impact of diet on the development of cancer.
Researchers found that people with the highest levels of high-density lipoprotein (HDL), or "good" cholesterol, and another blood fat called apolipoprotein A (apoA) had the lowest chance of developing colon cancer.
Experts speculate that HDL's anti-inflammatory properties may explain the finding but they say further research is still needed.