Lycopene extraction from tomato processing waste / peels is a challenging process. The present work reports a one-step integrated ultrasound-surfactant assisted extraction (IUSAE) of lycopene from tomato peels using non-ionic surfactant L62 as a superior extraction method among other methods (surfactant assisted extraction, i.e., SAE, ultrasound assisted extraction (UAE), and two-step ultrasound treatment followed by surfactant assisted extraction (USAE)). IUSAE resulted in 77% lycopene extraction, which was 19–33% more than SAE or UAE, and the integrated method required 30–90% less extraction time than SAE or UAE. As compared to two-step USAE, for the same extraction efficiency (75–77%), one step IUSAE required 30% less surfactant, with 85% reduction in extraction time, and 40% reduction in power. A life cycle assessment of the process showed that single step IUSAE has less environmental impact than two-step USAE. IUSAE also preserved the antioxidant activity of lycopene and the structure of the surfactant. Thus, one-step IUSAE is a more promising method than SAE, UAE, and two-step USAE. The superior performance of IUSAE is mainly due to the intensification of ultrasound and surfactant assisted extraction processes.