The present invention describes novel applications of an oil formulation rich in carotenoids and poly-unsaturated fatty acids (PUFA) for skin care, lip care and cosmetic use. The formulation contains natural oil extract of Momordica cochinchinensis Spreng also known as gac, spiny melon, Redmelon™. The formulation contains carotenoid antioxidants (beta-carotene and lycopene), pro-vitamin A carotenoid (alpha and beta-carotene), and vitamin E. In addition, the formulation contains omega-3, omega-6, omega-9 fatty acids, the essential fatty acids important in enhancing skin integrity, elasticity. The oil-based formulation helps skin to retain water, Carotenoids in the formula protects skin from oxidative damage. The novelty of this invention is in the mixture of antioxidants, retinol and essential fatty acids to deliver a stable, bioavailable and nutritious composition for skin care. In addition, the formulation provides vitamin E and retinol beneficial in skin therapeutic and cosmetic applications.