Increased environmental awareness is slowly driving the industry to develop alternatives to chemical routes for synthesis. Lipase catalysed synthesis is one such alternative route that is environmentally more acceptable. In this study, immobilized Candida antarctica lipase (Lipozyme 435) was used for the esterification of ricinoleic acid and isopropyl alcohol. Molecular sieves were used to remove the water formed during esterification to drive the reaction in forward direction. The optimal conditions observed were 40°C temperature, 4% enzyme concentration, 1:1 acid: alcohol ratio and 4 hours time interval. Under the described conditions, the reusability of lipase was tested and it was found that above 80% esterification was observed for over three cycles.