The present study deals with synthesis and characterization of Chitosan from the Shrimp shell waste from the local market in Mumbai, Maharashtra. In order to obtain Chitosan, shrimp shell waste undergoes chemical extraction process which involves demineralization, deproteinization and deacetylation. Chitosan, a soluble biopolymer in any solvent with pH less than 6.5, was extracted by deacetylation of chitin (deprotenized product) with 60% NaOH for 24 hours at 60°C. Chitosan solubility was analysed with two solvents i.e acetic acid and ascorbic acid of 1% concentration. The degree of deacetylation was calculated by the acid-base titration method and was found to be 77.90%, the Chitosan obtained were characterized by Fourier transform infrared spectroscopy (FTIR) and scanning electron microscopy (SEM).