Supercritical carbon dioxide (SCCO2) extraction of lycopene from waste tomato skins was investigated. The experiments were carried out at pressures and temperatures ranging from 20 to 50 MPa and 313 to 373 K, respectively, without any modifiers. The flow rate of CO2 was maintained at 2.5 mL/min for 330 min extraction time. Solvent flow rate effect was examined for CO2 flow rates from 1.5 to 4.5 mL/min. The extracts were analyzed by high-performance liquid chromatography and UV-visible spectroscopy. The results showed that with optimized operating conditions, the maximum yield of lycopene (1.18 mg of lycopene/g of sample) was obtained at 40 MPa, 373 K, and 2.5 mL of CO2/min. Chromatographic analysis indicated that lycopene was extracted from tomato skin with negligible degradation at the optimum conditions and the amount extracted represented more than 94% of the total carotenoid content of the sample. The solubility of lycopene was modeled by use of the Chrastil equation.