This study was conducted to observe the storage conditions, such as solvent and temperature, of lycopene content and degradation kinetics from red amaranth (Amaranthus gangeticus). Jelly was prepared using the extracted lycopene, the physicochemical properties and lycopene content. The extract with the maximum amount of lycopene was obtained by extraction with hexane, acetone and ethanol (2:1:1),50 ± 9 mg/kg. Higher lycopene degradation was observed at refrigerated temperature as compared to ambient temperature in hexane acetone (6:4) solvent throughout the storage periods. In this period, the initial lycopene concentration was measured to be 17 ± 8 mg/kg, whereas at the end of the storage time, it was found to be 3.0 ± 0.8 mg/kg. Hence, the results indicate that the hexane, acetone, and ethanol (in a ratio of 2:1:1) solvent method is viable for extracting and purifying lycopene from red amaranth at refrigerated temperature. This lycopene can serve as both a natural colorant and a value-added product. However, it is worth noting that lycopene can also be extracted and purified using recrystallization, column chromatography, and thin-layer chromatography (TLC) methods. The Winter melon jelly using lycopene from red amaranth contained moisture 29.6 %, ash 0.67 %, acidity 0.35 %, reducing sugar 26.8 %, non-reducing sugar 35.4 %, total soluble solid 66°brix and lycopene content 26.04 mg/kg. Proper utilization of lycopene extracted from red amaranth during the preparation of bakery, confectionary, baby food etc., may help and encourage the development of small-scale industries in the country.