The main methods are as follows: (1) the crude capsicum oleoresin is distilled with steam to remove the peculiar smell of capsicum, then treated with alkaline water, extracted with organic solvent, and distilled to obtain capsicum red pigment; Or, firstly, treating capsicum oleoresin with alkaline water, then extracting with solvent, concentrating, adding edible oil with the same oil-soluble method, and then distilling with steam to remove odor. (2) Fatty alcohols and alkaline substances, such as methanol-sodium methoxide, ethanol-sodium ethoxide, n-propanol-sodium n-propanol, isopropanol-sodium isopropanol, butanol-sodium butanol, etc. Adding it into capsicum oleoresin, through the catalysis of these alkaline substances, the fat components in capsicum oleoresin undergo transesterification reaction, then the excess alcohol is distilled off, and then water or brine is added to the remaining capsicum residue, which is adjusted to neutrality by acid, and the oil layer is layered. (3) firstly, the capsanthin is treated with 1.5% ~ 40% NaOH (or KOH) solution to saponify the fat component in the capsanthin, then extracted and concentrated with organic solvents such as acetone, and then treated with steam distillation or inert gas under reduced pressure to obtain the capsanthin without peculiar smell. The paprika red pigment prepared by this method has the advantages of high yield, good quality, safe production, simplicity and feasibility. (4) The method is to treat capsicum oleoresin with 20% alkali metal compound, and then add an appropriate amount of alkaline earth metal compound to form an aqueous solution system. The aqueous solution system was treated with dilute acid at room temperature to form salt, then filtered, separated out solid, washed with water, extracted with organic solvent, and concentrated under reduced pressure to obtain capsanthin. The obtained product has excellent texture and no peculiar smell.