Capsaicin, vitamin C, carotenoids and phenolic compounds from cumari-do-Pará peppers (Capsicum chinense Jacq.) harvested from two different locations from Pará, Brazil, and at different ripening stages were extracted employing ultrasonic-assisted extraction (UAE). Edible vegetable oils from soybean (Glycine max), Brazilian nuts (Bertholettia excelsa H.B.), and palm olein were used as the extraction solvent, as an alternative to organic solvents combined with UAE. The proximate composition of the pepper extracts and vitamin C were determined through AOAC methods, while total phenolic compounds and carotenoids were assessed by UV/Vis spectrophotometry, and capsaicin, by high-performance liquid chromatography. The antioxidant activities of cumari-do-Pará extracts were evaluated by the ABTS radical scavenging and β-carotene/linoleic acid system assays. Bioactive compounds and antioxidant activity varied with harvesting location and pepper ripening stage. Soybean oil was the most effective in extracting hydrophobic molecules particularly linoleic acid, corresponding to about 60% of the total fatty acid. Carotenoids were extracted whith highest yields by all oil extracts . Oily cumari-do-Pará extracts can be used as spices in foodstuffs and as additives in pharmaceuticals and nutraceuticals. Edible vegetable oils combined with UAE are, thus, efficient for bioactive compound extraction, also comprising an environmentally friendly, safe, low-cost, and fast alternative.