Food preservation has an important role in the conservation and better utilization of fruits and vegetables in order to avoid the glut and utilize the surplus during the off-season. It is necessary to employ modern methods to extend storage life for better distribution and also processing techniques to preserve them for utilization in the off-season in both large scale and small scale.The each part of papaya fruit can be very well utilized for value added products. The unripe papaya can be utilized for preparation of good quality candy and isolation of papain. The papain paste can be utilized as a meat tenderized in various products. The seed can be utilized for extraction of oil which has various health benefits with respect to essential fatty acids.The various value added products were prepared form ripe as well as unripe papaya viz squash, RTS, jam, leather and candy. All the products prepared were organoleptically evaluated. All the products prepared were stored for 2 months at ambient temperature and refrigeration temperature for their storage and microbial study.