In this study, subcritical water extraction (SWE) and the supercritical fluid extraction (SFE) methods were used for the extraction of pumpkin peel extract. Total phenolic content and carotenoid compounds of extracts were measured. The extracts were added to canola oil at a concentration of 400 ppm and were stored at 30 °C for 60 days. The peroxide, carbonyl and acid values of the oil samples were measured, then compared with 100 ppm of tert-butylhydroquinone (TBHQ) synthetic antioxidants. The results showed that the total phenol content of obtained extract by SFE (353.5 mg GA/100 g extract) was higher than by SWE (213.6 mg GA/100 g extract), while the carotenoid content was higher for obtained extract by SWE (15.22 mg/100 g extract) compared to SFE (11.48 mg/100 g extract). The result of oil oxidation showed that the oxidative stability of the oil containing the mixed extract (SFE–SWE) is higher than the separate extract, consequently showing higher performance in preventing oil oxidation compared to TBHQ.