Countless studies showed that [60]fullerene (C₆₀) and derivatives could have many potential biomedical applications. However, while several independent research groups showed that C₆₀ has no acute or sub-acute toxicity in various experimental models, more than 25 years after its discovery the in vivo fate and the chronic effects of this fullerene remain unknown. If the potential of C₆₀ and derivatives in the biomedical field have to be fulfilled these issues must be addressed. Here we show that oral administration of C₆₀ dissolved in olive oil (0.8 mg/ml) at reiterated doses (1.7 mg/kg of body weight) to rats not only does not entail chronic toxicity but it almost doubles their lifespan. The effects of C₆₀-olive oil solutions in an experimental model of CCl₄ intoxication in rat strongly suggest that the effect on lifespan is mainly due to the attenuation of age-associated increases in oxidative stress. Pharmacokinetic studies show that dissolved C₆₀ is absorbed by the gastro-intestinal tract and eliminated in a few tens of hours. These results of importance in the fields of medicine and toxicology should open the way for the many possible -and waited for- biomedical applications of C₆₀ including cancer therapy, neurodegenerative disorders, and ageing.