An efficient method is disclosed for extracting lutein from corn, sweet potato, and other plant products, and for extracting aflatoxin-free lutein from aflatoxin-contaminated plant grains and other plant products safely without any toxic by-products. The lutein is extracted using acetone, and either chilled or saponified to separate from the lipids. If contaminated with aflatoxin, the extracted aflatoxin-contaminated lutein is treated with lipoxidase. This method may be used in producing aflatoxin-free lutein from other contaminated grains or plant oils, or other plant products, including corn, cotton, soybean, rice, barley, wheat, maize, millet, and peanut.