This study was carried out to assess some physical, chemical and sensory properties of fish waste oil extracted by two different methods: physical (boiling) and chemical (acid fermentation). Samples of common carp viscera were collected from local markets in the city of Basrah, which included viscera of the common carp Cyprinus carpio. The most prominent and significant difference was the extraction yield which amounted to 57.14% vs 35.71% (vol./wt.) for the physical and chemical methods, respectively. Other physical properties: refraction index, specific weight, specific gravity, viscosity, cloud point and pour point, Were superior in physical method of the physical method. Measured chemical indices (free fatty acids FFA, fatty acid profile, peroxide value, iodine number and Thiobarbituric acid value TBA) indicated some variability between oil types, the most obvious was FFA which increased significantly from 0.107 to 0.205% for physical and chemical methods, respectively. The sensory tests (color and odor) were in favor of oil extracted with the physical method characterized by a light amber color and a mild fishy flavor.