To improve the nutritional value of energy-dense extruded snacks, corn grits were replaced with tomato paste and/or tomato skin powder at ratios of 5, 10, and 20% and extruded to make expanded snack foodlike products. Using a model digestion system, lycopene bioaccessibility and uptake from the snacks into Caco-2 cells were determined. The digestibility of the starch, the main nutrient component of the snacks, was also investigated. While extrusion cooking reduced the lycopene content of the snacks, the proportion of bioaccessible lycopene increased. Lycopene uptake by the Caco-2 cells from the extruded snacks exceeded that of the control in which the lycopene was not extruded, by 5% (p < 0.05). The digestibility of starch in the snacks varied depending on the type of tomato derivative and its concentration. Optimization of the extrusion cooking process and the ingredients can yield functional extruded snack products that contain bioavailable lycopene.