The application of astaxanthin is not widely studied especially on its uses and relationship toward lipid stability in food products. Therefore, this study was aimed to determine the antioxidant activity of astaxanthin and evaluate its lipid stability, physicochemical and sensory properties of astaxanthin formulated cookies. The antioxidant activity of astaxanthin was analyzed using DPPH, HRSA and FRAP assays. Meanwhile, lipid stability including peroxide value (PV), p-anisidine value (P-aV) and TOTOX value was evaluated periodically on the formulated cookies (10%, 15% and 20% of astaxanthin). Astaxanthin recorded inhibition percent (I%) value of DPPH 97%. The hardness of the cookies significantly decreased (P less than 0.05) as the astaxanthin were increased. The amount of astaxanthin added did not affect the taste acceptability of all formulated cookies. Storage time has affected on PV and P-aV value, but not affected on the TOTOX value. The significance of this study will lead to the potential application of astaxanthin as functional foods, thus provide health benefits.