You could also use cilantro, oregano, dill, parsley, or mint for this "flavored oil".
1/2 c fresh basil leaves
2.5 c olive oil
Blanch basil leaves and some of the stems. Rinse under cold water; pat dry.
Puree in a blender along with an equal amount of oil . Pour into a small glass jar and add twice as much oil as puree mixture.
Cover and shake well.
Refrigerate oil overnight. Bring back to room temperature and pour through a strainer lived with damp cheesecloth. Do not press on teh solids.
Refrigerate oil, covered, for up to two weeks.