Catalyzes the hydrolysis of acyl-CoAs into free fatty acids and coenzyme A (CoASH), regulating their respective intracellular levels. More active towards saturated and unsaturated long chain fatty acyl-CoAs (C12-C20). H2O + hexadecanoyl-CoA = CoA + H(+) + hexadecanoate dodecanoyl-CoA + H2O = CoA + dodecanoate + H(+) H2O + tetradecanoyl-CoA = CoA + H(+) + tetradecanoate decanoyl-CoA + H2O = CoA + decanoate + H(+) H2O + octadecanoyl-CoA = CoA + H(+) + octadecanoate eicosanoyl-CoA + H2O = CoA + eicosanoate + H(+) (9Z)-octadecenoyl-CoA + H2O = (9Z)-octadecenoate + CoA + H(+) (9Z)-hexadecenoyl-CoA + H2O = (9Z)-hexadecenoate + CoA + H(+) (9E)-octadecenoyl-CoA + H2O = (9E)-octadecenoate + CoA + H(+) Lipid metabolism; fatty acid metabolism. Monomer. Expressed in liver. In the liver, by peroxisome proliferator (Clofibrate) treatment, via the peroxisome proliferator-activated receptors (PPARs) or fasting for 24 hours. Belongs to the C/M/P thioester hydrolase family.