Tomato peels were firstly dried by different methods (hot air, freeze-drying, and fluidized bed drying) to evaluate the recovery of lycopene, b-carotene and DPPH radical scavenging activity. Comparison of the results showed that hot air drying at 50 °C was a suitable method and alternative to freeze-drying to preserve carotenoids compounds and antioxidant activity in tomato peels. Then, ethanol/ethyl acetate (1:1) extracts from tomato peel, previously dried at 50 °C by hot air, were submitted to heat (100 °C) and light treatment (1000 lumen) to evaluate their stability as natural food dyes. Heating of the extracts caused a progressive reduction of total carotenoids, up to about 30% after 250 min of treatment, whereas the colour at the end of heat treatment showed small changes, with an overall colour difference (ΔE) equal to 7. Fluorescent lighting treatment showed an almost total degradation of carotenoids in the extracts after 48 h combined with a fading colour.