Board Thread:Oblivion/@comment-81.147.42.0-20150412152806/@comment-6881629-20150412160824

Just like Skyrim you can eat one of the ingredients to learn what its effect is then combine two or more ingredients with the same effect to make a potion, but unlike Skyrim the quality of your equipment as well as your skill determines the quality of the potion.

The page for alchemy is here just experiment or look at the ingredients with their effects here potion recipes here and poisons here.