Stable vitamin C (L-ascorbic acid) compositions for topical application, comprising micronized L-ascorbic acid in a substantially non-aqueous carrier having a pH greater than that of skin, and preferably not lower than approximately 5.5 and not greater than approximately 7.5, are described. The composition may further comprise papain as an enzymatic exfoliant in addition to humectants, emollients, viscosity-increasing agents, surfactants, and preservatives. Methods of preparing the micronized L-ascorbic acid for use in the described formulations, by a "wet" micronization process, are also described. The compositions are useful as UV protectants, promoters of collagen synthesis and in the removal and/or treatment of wrinkles.