Lipid oxidation in ascidian was studied when fresh, deshelled and sliced meats were fermented for 50 days at 5$pm$2$^{circ}C$ with 8%(w/w) salt and 0.1% papain. Antioxidative effects of butylated hydroxytoluene(BHT) and carotenoid extracts from ascidian tunic on lipid oxidation and oxidationrelated discoloration of ascidian meat during fermentation were investigated. Changes in peroxide value, carbonyl value, thiobarbituric acid value, fatty acids composition, the loss of total carotenoid and sensory evaluation were determined to assess the rancidity. Peroxide and carbonyl values in BHT and carotenoid extract treatments increased less than those of the control during fermentation. TBA value increased until 30 days, hereafter tended to decrease a little in the control during fermentation. TBA value increased until 30 days, hereafter tended to decrease a little in the control but it increased slowly until 40 days in cases of 0.02% BHT or 0.02% BHT with 0.05% carotenoid added. Fatty acids of fresh ascidian composed of polyenoic acid, saturated acid and monoenoic acid of 51.5%, 28.1% and 20.7%, respectively. Saturated fatty acids(C16:0, C14:0, C18:0) and monoenoic acids(C18:1, C16:1) increased while polyenoic acids(C20:5, C22:6) decreased during fermentation. Carotenoid was markedly degraded and discolored in the control during fermentation. But 0.02% BHT and 0.05% carotenoid treatments had bright color like fresh meat during 40 days. The results of sensory evaluation during the fermentation also convinced the retard of discoloration by the addition of BHT and carotenoid.