Water and ethanol extracts of fresh red peppers were obtained by two methods, conventional extraction (CE) and microwave-assiated extraction (MAE), under different extraction conditions. Red pepper oleoresins extracted by CE and MAE were examined in oleoresin yield and physiological activities. The proper extraction time of MAE was about 5 minutes, whereas that of CE was 2 hours. therefore extraction time was decreased drastically by MAE but there was no significance in oleolesin yields. the electron donating abilities also showed negligible difference between two extracts obtained by CE and MAE, and 80% level in all extracts . the nitrite scavenging effect was reduced by increased of ph , and showed a high elimination effect over 85% at ph 1.2. All extracts had a high tyrosinase inhibitory effects of 100%. The angiotensin I-conventing enzyme effect showed higher activity with over 80% in MAE than 70% level in CE. the capsanthin was extracted with ethanol and was 11.4 and 12.9 ${mu}$moles per 1 g of fresh red pepper by CE and MAE, respectively.