A model-independent analysis for the exclusive, rare B-->K*l(+)l(-) decay is presented. Systematically studied are the experimentally measured quantities, such as the branching ratio, forward-backward asymmetry, longitudinal polarization of the final leptons, and the ratio Gamma(L)/Gamma(T) of the decay widths when the K* meson is longitudinally and transversally polarized. The dependence of the asymmetry parameter alpha = 2 Gamma(L)/Gamma(T)- l on the new Wilson coefficients is also studied in detail. It is found that the aforementioned physical observables are quite sensitive to the new Wilson coefficients. Therefore, once we have the experimental data with high statistics and a deviation from the standard model, we can interpret the source of such a discrepancy.