Global obesity rates are of epidemic proportion. With limited treatments available there is a large demand for therapeutic alternatives. Polyphenols derived from coloured rice varieties may serve as a potential functional food alternative in combating obesity and obesity-related diseases. The antioxidant and anti-inflammatory properties of polyphenols found in coloured rice varieties could have the ability to neutralize oxidative stress and modulate inflammatory responses in obese populations. This review discusses polyphenols derived from rice, the oxidative stress and inflammatory pathways involved in obesity pathogenesis, bioavailability of polyphenols and the therapeutic potential of polyphenols on transcriptional and molecular pathways related to obesity and obesity-related diseases.