An approach was made to enhance the halophilic lipase secretion by a newly isolated moderate halophilic Marinobacter litoralis SW‐45, through the statistical optimization of Plackett‐Burman (PB) experimental design and the Face Centered Central Composite Design (FCCCD). Initially, PB statistical design was used to screen the medium components and process parameters, while the One‐factor‐at‐a‐time technique was availed to find the optimum level of significant parameters. It was found that MgSO4 · 7H2O, NaCl, agitation speed, FeSO4 · 7H2O, yeast extract and KCl positively influence the halophilic lipase production, whereas temperature, carbon source (maltose), inducer (olive oil), inoculum size, and casein‐peptone had a negative effect on enzyme production. The optimum level of halophilic lipase production was obtained at 3.0 g L−1 maltose, 1% (v/v) olive oil, 30 °C growth temperature and 4% inoculum volume (v/v). Further optimization by FCCCD was revealed 1.7 folds improvement in the halophilic lipase production from 0.603 U ml−1 to 1.0307 U ml−1. Functional and biochemical characterizations displayed that the lipase was significantly active and stable in the pH ranges of 7.0–9.5, temperature (30–50 °C), and NaCl concentration (0–21%). The lipase was maximally active at pH 8.0, 12% (w/v) NaCl, and 50 °C temperature. Besides, M. litoralis SW‐45 lipase was found to possess the promising industrial potential to be utilized as a biocatalyst for the esterification.