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In this paper, we describe methods to automatically generate and score a new sentiment lexicon, called SentiFul, and expand it through direct synonymy and antonymy relations, hyponymy relations, derivation, and compounding with known lexical units. We propose to distinguish four types of affixes (used to derive new words) depending on the role they play with regard to sentiment features: propagating, reversing, intensifying, and weakening. Besides derivation, we considered important process of finding new words such as compounding, which is a highly productive process, especially in the case of nouns and adjectives. We elaborated the algorithm for automatic extraction of new sentiment-related compounds from WordNet using words from SentiFul as seeds for sentiment-carrying base components and applying the patterns of compound formations. In the paper, the importance of considering modifiers, contextual valence shifters, and modal operators, which are integral parts of the SentiFul lexicon for robust sentiment analysis, is also discussed.