An improved method for processing and extracting krill oil from krill meal/fresh krill. The proposed method for processing and extracting of krill oil from krill meal/fresh krill can be a very simple, cost effective and productive approach. The krill oil obtained herein can meet industrial standards and requirements of a wide range of applications including nutraceuticals and pharmaceutical applications. The method can be alternatively adapted to process and extract a wide range of marine oils including, but not limited to, Fish, Salmon, Shrimp, Cod and other marine product varieties.