Capsaicin is the pungent ingredient in red peppers. Due to the effects on the sensory nerve fibers, capsaicin has been used to treat pain and inflammation associated with a variety of diseases including rheumatoid arthritis and diabetic neuropathy, obesity, and cardiovascular and gastrointestinal conditions. Despite the extensive publications on different systems, the studies of the effects on the ovary are very limited. The present study was conducted to examine the possible proliferative and/or apoptotic effects of various doses of capsaicin on primarily derived granulosa cells. In accordance with this purpose, ovarian granulosa cells were exposed to different doses of capsaicin for 24 and 48 h. The proliferative effects of capsaicin were examined by immunocytochemistry, immunofluorescence, and western blot using an antibody against proliferating cell nuclear antigen (PCNA) and cell viability assay (MTT). The effects on apoptosis were determined by immunocytochemistry and immunofluorescence using antibodies against cleaved caspase-3 and cleaved poly (ADP-ribose) polymerase (PARP). We showed that the number of apoptotic cells increased in a capsaicin dose and time-dependent manners. We found that a low dose of CAP in 24 h administration was more effective on granulosa cell proliferation. Our results suggest that low-dose and short-term administration of CAP may have a positive effect on ovarian folliculogenesis.