The many commercial forms of Capsicum species contribute to its consumption worldwide. Peppers can be marketed as fruits, powders, food colourings, sauces, cosmetics, medicines, infusions and even sprays for self-defence. Most of the commercial products are derived from the Capsicum oleoresin, a viscous liquid obtained via extraction from parts of the dried fruit. This oleoresin has a complex chemical composition containing most of the major Capsicum metabolites, such as vitamins, flavonoids, carotenoids and capsaicinoids. This bioproduct is both highly valued and versatile because production can be focused towards a certain composition for a specific purpose. Several methods are used to produce Capsicum oleoresins, ranging from traditional and conventional methods to green and emergent technologies. Most of the currently applied methods include cold compression, maceration, ultrasound-assisted extraction and supercritical fluid extraction. Each of these methods has advantages and disadvantages regarding applicability and quality of the product obtained. These advantages and disadvantages should be considered when choosing the most suitable method for the preparation of an oleoresin of Capsicum, in addition to the objective of the final product.