- Click Media > Convert/Save

- Click the Add button and browse to select the file.
 - Click Convert/Save to bring up the Convert window. Set the Profile to Audio-MP3 and click the wrench icon.

- On the Enscapsulation tab, select RAW and then click Save.

- Back on the Convert window, set the Destination file by clicking Browse. You can change the existing name by changing the end to mp3.

- Now click Start and wait for it convert. The main VLC Player window will show a progress bar, as if you were playing the file.

- After it's done, look in the destination folder to find your mp3 file.
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