The exudate and seriated extracts from the aerial parts of Baccharis grisebachii (Asteraceae) which is recommended as a digestive and to relieve gastric ulcers in Argentina, showed activity as free radical scavengers and inhibited lipoperoxidation in erythrocytes. Assay-guided isolation led to seven p-coumaric acid derivatives and six flavonoids as the main active constituents of the crude drug. The activity towards the superoxide anion was mainly due to the flavonoid constituents. 5,7,4′-Trihydroxy-6-methoxyflavone and quercetin presented high activity (64 and 79%) even at 12.5μg/ml. The xanthine oxidase inhibitory effect of the extracts can be related with the p-coumaric acid derivatives drupanin, 4-acetyl-3,5-diprenylcinnamic acid and trans-ferulic acid O-hexan-3-onyl-ether which showed IC 50 values in the range 28–40μg/ml. Both p-coumaric acid derivatives and flavonoids inhibited lipoperoxidation in erythrocytes. The highest activity was found for the p-coumaric acid derivatives 4-acetyl-3-prenyl-ethoxycinnamate, 3-prenyl-4-(4′-hydroxydihydrocinnamoyloxy)-cinnamate and trans-ferulic acid O-hexan-3-onyl-ether (69–82%) and the flavonoids 5,7,4′-trihydroxy-6-methoxyflavone, quercetin, 5,7,4′-trihydroxy-6,3′-dimethoxyflavone and 5,7,4′-trihydroxy-6,8-dimethoxyflavone (64–84%) at 100μg/ml.The most active free radical scavengers measured by the DPPH decoloration assay were the p-coumaric acid derivatives drupanin and trans-ferulic acid O-hexan-3-onyl-ether (27–35% at 10μg/ml) and the flavonoid quercetin (97 and 23% at 10 and 1μg/ml, respectively). The results support the use of Baccharis grisebachii in Argentinian traditional medicine.