To improve the utilization of red pepper, the extracting conditions of oleoresin, such as kind of solvents, particle sizes of a sample, sample to solvent ratios, extraction temperatures and times, were studied. Among eight solvents used for oleoresin extraction from red pepper, the optimal solvent was acetone. The most appropriate particle size of red pepper powder, extracting temperature and mixing ratio of red pepper to acetone were 100 mesh, $25^{circ}C$ and 1 to 3(w/w), respectively. The basis of yield in oleoresin extraction, optimum extracting time was about 5 hours. The yield of oleoresin under the above-mentioned conditions was 18.7%.