The invention relates to a novel composition of a cosmetic product for topical application. More particularly, the invention relates to a cosmetic composition for lightening of skin and reducing hyper pigmentation. In the main embodiment the present invention provides a novel composition of a cosmetic product for lightening of skin and reducing skin pigmentation comprising of three key ingredients: niacinamide, 4-substituted resorcinol, and hinokitiol (?-thujaplicin) and/or extract of the parts of trees in the family Cupressaceae. The present invention provides a novel cosmetic composition which is easy to formulate and is mild on skin. The composition can also be used as an agent for preventing skin tanning in topical products.