This study investigated optimal extraction conditions for applying Capsicum annuum L. leaf as a functional food resource. Capsicum annuum L. leaf was extracted at different extraction solvents (water and 95% ethanol), extraction temperatures (80oC and 100oC), and e xtraction times ( 30, 60, and 9 0 min), a nd t he extracts were e valuated for extraction yield, luteolin content as a major flavonoid component, antioxidant activity, and α-glucosidase inhibitory activity. The extraction yield, luteolin content, DPPH and ABTS radical scavenging activities, and α-glucosidase inhibitory activity of the hot water extract were higher than those of the ethanol extract. In evaluating the extraction temperature of Capsicum annuum L. leaf, the antioxidant activities were similar, but the extraction yields, luteolin contents, and α-glucosidase inhibitory activities were higher at 100oC extraction. In evaluating the extraction time of Capsicum annuum L. leaf, extraction yield increased as the extraction time increased, but antioxidant activity and α-glucosidase inhibitory activity were the highest at 60 min of extraction. These results suggest that the optimum extraction conditions of Capsicum annuum L. leaf are hot water for 60 min at 100oC, and the extracts can be used as a functional food resource.