•Curcuminoids were extracted using different extraction methods.•Highest amount of extract was obtained using ethanol as solvent.•Antioxidant, antifungal and antibacterial activities of extracts have been measured.•The highest antioxidant activity was obtained from ethanol extract.•Curcuminoids have been encapsulated in PEG by PGSS™ process. In this study, the isolation of curcuminoids from turmeric (Curcuma longa L.) was performed using different solvent extraction methods and solvents. Obtained extracts were analyzed for the contents of curcumin, demethoxycurcumin and bisdemethoxycurcumin by HPLC and the radical scavenging and antibacterial activities of extracts were determined. Extract with highest content of curcuminoids was mixed with polyethylene glycol (PEG) and formulated into powder using PGGS™ method. Obtained powder was pressed into tablets and a release study of the curcuminoids from the product was observed in simulated gastric and intestinal fluids. Results show that the highest yield of extract is obtained using conventional extraction with mixing in ethanol giving the highest concentration of curcuminoids as well. All extracts show strong antifungal properties but weak antibacterial activity. Curcuminoids extract was successfully encapsulated in PEG carrier and a fine powder was obtained, which increased the solubility in aqueous media.