Purpose: This study evaluated the in vitro antioxidant potential of two varieties of Codiaeum variegatum leaves (spiral (CP) and royal like (BP)) extracts. Methods: The different antioxidant assays, including DPPH free radical scavenging, nitric oxide scavenging, hydrogen peroxide, reducing power, total antioxidant activity, protection of lipid peroxidation and RBC membrane stabilization activity, were studied. Moreover, high-performance liquid chromatography (HPLC) coupled with diode-array detection was used to identify and quantify the phenolic compounds in the royal like (BP) leaves extract. Results: Codiaeum variegatum extracts showed effective DPPH free radical scavenging, hydrogen peroxide radical scavenging and nitric oxide scavenging activity. However, reducing power of ferric ion was not significant compared to the standard antioxidant activity. In addition, Codiaeum variegatum extracts exhibited protection against lipid peroxidation. The total antioxidant activity was increased dose dependently when compared with standard drug ascorbic acid. (-)-Epicatechin, p-coumaric acid, rutin hydrate and ellagic acid were identified in the extract. Among the phenolic compounds, ellagic acid was abundantly present in the extract. Conclusion: Our investigation suggests that Codiaeum variegatum leaves contain high amount of phenolic compounds which may responsible for its biological activities in folkloric medicine.