Carica papaya lipases are biocatalysts with potential for lipid bioconversion. This research studied the lipolitic activity (LA) of the crude powder (P3) and protease-free (CPL-p) fractions of C. papaya latex on Bactris guineensis (corozo) oil. Latex and oil were obtained from agro-industrial waste. A composite central design allowed to establish the temperature (T) and pH effect on LA of P3 and CPL-p; thermal, pH stabilities and kinetic parameters were also determined. The maximum LA were 722,43 ± 1,92 U/g (T= 40°C y pH= 9) and 518,65 ± 4,70 U/g (T = 54°C y pH= 8) for P3 and CPL-p respectively. P3 showed higher affinity (KM = 1,3x104 ± 1,3x103 µM y Vmax = 18,66 ± 0,47 µmol/min) compared to CPL-p (KM = 2,6x104 ± 1,1x103 µM y Vmax = 16,58 ± 0,08 µmol/min); similarly, greater efficiency in hydrolysis, due to the high content of medium chain fatty acids (lauric and miristic acid > 80%). As a conclusion, the fraction P3 is an efficient biocatalyst for the bioconversion of corozo oil, demonstraring that the residues of these fruits are valuable resources for its production chains.