A newly isolated Talaromyces purpureogenus strain F producing extracellular pigments was characterized for extrolites and antioxidant properties. The extrolites of T. purpureogenus F characterized by LCMS revealed 33 compounds. The cultivation medium containing sucrose (50), L-glutamic acid (3), peptone (3), MgSO47H2O (0.5), KCl (0.5), FeO4.7H2O (0.01), ZnSO4 (0.01) g/l, and pH of 5.0 was the best for biomass (25.5 ± 0.5 g/l) and pigment [20.59 ± 0.48 AU410/ml, 24.42 ± 0.16 AU510/ml] production, with specific growth rate µ max 0.81 ± 0.01/day in stirred tank bioreactor. The extracellular pigment production and antioxidant properties was higher than intracellular pigments. The EC50 value of ferrous ion chelating activity of extracellular pigment was 570.41 ± 9.88 µg/ml. The present findings can advance our knowledge on the conditions used for enhancing the production of extracellular azaphilone pigments and bioactive properties using Talaromyces species in submerged fermentation.