Lycopene is a carotenoid without provitamin-A activity which functions as an important antioxidant. It is a carotenoid present in human blood and other tissues. The intake of dietary lycopene reduces the risk of many diseases such as eye diseases, diabetes, and cardiovascular diseases. Tomatoes are a major source of lycopene. This study aims at finding a suitable method of extraction and estimation of lycopene from tomatoes. Pectinase, pectinase and ultrasound waves, solid state extraction and spectrometric measurements were used for the said purpose. It was deduced that by using these methods a good quantity of active lycopene can be extracted from red and raw (green) tomatoes which can be used further for therapeutic purposes. These are fast methods to extract lycopene in which pectinase is also extracted simultaneously, thus reducing the cost of buying commercial pectinase. These methods can be used on a small and/or large scale for the preparation of therapeutic medicine as well as for waste management, since vegetable waste can also be used for lycopene extraction. Further alterations can also be made to increase the efficiency of lycopene extraction.