Ground spice paprika was extracted with hexane, by conventional Soxhlet procedure (SX oleoresin), and with supercritical carbon dioxide at three different pressures - 20, 30 and 40 MPa (SF20, SF30 and SF40 oleoresins). The effect of extraction method and conditions on the colour intesity of paprika oleoresins, content of α-tocopherol, as well as antioxidant and antiproliferative activity was examined. Hexane showed highest selectivity for paprika pigments (886.02 ASTA), while α-tocopherol showed highest solubility (3846.9 mg kg−1) in supercritical carbon dioxide at 20 MPa. All paprika oleoresins exhibited good superoxide anion radical scavenging activity SF30 being the best superoxide anion radical scavenger. Cell growth activity was evaluated in vitro in human cell lines:cervix epitheloid carcinoma (HeLa), breast adenocarcinoma (MCF7) and colon adenocarcinoma (HT-29). The highest antiproliferative activity was exhibited by SX in MCF7 cell line (IC50=14.28 mg mL−1). Extract SF40 produced significant and selective antiproliferative action towards HeLa cell line. These results suggest that paprika oleoresins, due to high antiradical and tumor cell-inhibiting activity, can be regarded as functional food ingredients.