The present study aimed to evaluate the levels of lead (Pb), arsenic (As), and mercury (Hg), as well as peroxide values in 52 samples of lipstick in Karaj, Iran. The Varian Spectra AA-220 atomic absorption spectrometer was utilized to determine the concentration of metals. The average levels of the analyzed metals were in good accordance with the standard levels set by the Institute of Standards and Industrial Research of Iran (ISIRI 14622). The obtained results illustrated that the mean (±SE) levels of Pb, As, and Hg were 3.029±0.787, 0.546±0.090, and 0.044±0.002 µg/g, respectively. Moreover, the mean peroxide value (2.173±0.314 mEq/kg) was lower than the maximum amount set by ISIRI 14622 )10 mEq/kg). Therefore, a continuous monitoring program to ensure acceptable quality of these products along with an enhancement in the consumers’ awareness of the potential hazards of the regular use of cosmetic products is highly recommended.