The present invention provides an astaxanthin medium-chain fatty acid ester, which is expected to be applied in the fields of food, cosmetics and pharmaceuticals, and has higher digestibility and tissue penetration than long chain fatty acid ester form astaxanthins. When the synthesis of an astaxanthin medium-chain fatty acid ester is attempted using the catalytic action of lipase by conventional methods, ester cannot be formed. However, according to the present invention, a composition comprising an astaxanthin medium-chain fatty acid monoester and/or diester is produced by adding a certain amount of water into a reaction system and reacting an astaxanthin or a long chain fatty acid ester thereof with a medium-chain fatty acid, a triglyceride thereof or a suitable ester. Moreover, these monoesters and/or diesters are isolated, as necessary. The present invention further provides food or cosmetics comprising the composition of the present invention.