In this paper, a new three-parameter lifetime distribution, alpha power transformed inverse Lomax (APTIL) distribution, is proposed. e APTIL distribution is more flexible than inverse Lomax distribution. We derived some mathematical properties including moments, moment generating function, quantile function, mode, stress strength reliability, and order statistics. Characterization related to hazard rate function is also derived. e model parameters are estimated using eight estimation methods including maximum likelihood, least squares, weighted least squares, percentile, Cramer-von Mises, maximum product of spacing, Anderson-Darling, and right-tail Anderson-Darling. Numerical results are calculated to compare the performance of these estimation methods. Finally, we used three real-life datasets to show the flexibility of the APTIL distribution. − α , x, a, b > 0.(2)Mahdavi and Kundu [8] introduced the alpha power transformation (APT) method to add an additional parameter to a family of distributions to increase flexibility in given family. e cdf and pdf of APT-G family are Hindawi Complexity Volume 2020, Article ID 1860813, 15 pages https://doi.