Using the related form factors from full QCD which recently are available, we provide a comprehensive analysis of the $Lambda_b rightarrow Lambda ell^+ ell^-$ transition in universal extra dimension model in the presence of a single universal extra dimension called the Applequist-Cheng-Dobrescu model. In particular, we analyze some related observables like branching ratio, forward-backward asymmetry, double lepton polarization asymmetries and polarization of the $Lambda$ baryon in terms of compactification radius and corresponding form factors. We present the sensitivity of these observables to the compactification parameter, 1/R up to 1/R=1000 GeV. We also compare the results with those obtained using the form factors from heavy quark effective theory as well as the SM predictions.