The Lipid Panel is a blood test used to measure overall cholesterol levels and triglyceride levels. This test looks at overall cholesterol levels and triglycerides (the main components of natural fats and oils). Lipids are various forms of fat in the body and include cholesterol types. Lipids are a type of fat and fat-like substances found in cells and are used as a source of energy like glucose. Two notable lipids: cholesterol and triglycerides, are the main things tested in this panel. Monitoring and maintaining proper cholesterol levels is important to your health because the extra cholesterol may be deposited on the walls of blood vessels as plaque, which can narrow or even block blood vessels and lead to heart disease or stroke.