A lycopene extracting method is provided. The method includes steps of inoculating lycopene-producing microbes, performing fermentation, and performing concentration by centrifugation after fermentation is finished to obtain a microbe thallus-containing concentrate; subjecting the concentrate to wall breaking; washing the liquid mixture after wall breaking with saline and performing concentration by centrifugation to remove dreg and water phases so as to obtain a lycopene-containing oil solution; subjecting the oil solution and a sufficient amount of an alkali liquid to a saponification reaction to remove oil and grease; washing the saponification reaction solution with water to remove soap until the soap concentration in a washing liquid is less than 10 ppm so as to obtain lycopene wet crystals; and subjecting the lycopene wet crystals to vacuum drying to obtain lycopene crystals. No organic extracting solvent is used in an extraction process of the method, thus greatly reducing the lycopene extraction cost and facilitating environment protection. In addition, no organic solvent is used in extraction so that the prepared lycopene crystals are free of solvent residue and food safety of a product is enhanced.