Pacific krill () contains high amounts of astaxanthin, a carotenoid pigment with strong antioxidative activities. In this study, the effects of subcritical water temperatures (100-180 °C) and times (0-10 min) on color changes (*, *, and*) and astaxanthin degradation in Pacific krill were investigated. In addition, an aqueous solution of pure astaxanthin and that of crude astaxanthin from Pacific krill, both at a concentration of 5 mg/L, were subjected to treatment under subcritical water conditions using a flow-type reactor to compare the degradation of free astaxanthin and astaxanthin fatty acid esters. To compare the results of the different treatment conditions on the properties of astaxanthin, the severity factor (log ) was calculated, which ranged from 0.38 to 3.52. The extractability of astaxanthin enhanced when the subcritical water treatment was carried out at log values of 2.00-2.44. In contrast, astaxanthin underwent 50% degradation at log > 2.44. The changes in the * values correlated well with the astaxanthin content in the treated krill, while the* and * values might relate to the browning components forming owing to Maillard reaction. The results show that free astaxanthin was less stable than crude astaxanthin under subcritical water treatment.