Sentiment analysis involves the detection of sentiment content of text using natural language processing. Natural language processing is a very challenging task due to syntactic ambiguities, named entity recognition, use of slangs, jargons, sarcasm, abbreviations and contextual sensitivity. Sentiment analysis can be performed using supervised as well as unsupervised approaches. As the amount of data grows, unsupervised approaches become vital as they cut down on the learning time and the requirements for availability of a labelled dataset. Sentiment lexicons provide an easy application of unsupervised algorithms for text classification. SentiWordNet is a lexical resource widely employed by many researchers for sentiment analysis and polarity classification. However, the reported performance levels need improvement. The proposed research is focused on raising the performance of SentiWordNet3.0 by using it as a labelled corpus to build another sentiment lexicon, named Senti-CS. The part of speech information, usage based ranks and sentiment scores are used to calculate Chi-Square-based feature weight for each unique subjective term/part-of-speech pair extracted from SentiWordNet3.0. This weight is then normalized in a range of −1 to +1 using min–max normalization. Senti-CS based sentiment analysis framework is presented and applied on a large dataset of 50000 movie reviews. These results are then compared with baseline SentiWordNet, Mutual Information and Information Gain techniques. State of the art comparison is performed for the Cornell movie review dataset. The analyses of results indicate that the proposed approach outperforms state-of-the-art classifiers.