Satureja parvifolia (Phil.) Epling (synonym of Clinopodium gilliesii (Benth.) Kuntze) is a species growing in the Andean countries, used in food as aromatic plant, but also in traditional medicine. In order to improve the knowledge on its metabolite profile and biological properties, three different polar extracts (decoction, ethanol and hydrolate) of S. parvifolia collected in three different places of Jujuy Province (Argentina) were studied. The screening by DPPH scavenging assay allowed selecting the sample to be used in further analyses. Fourteen phenolic compounds were determined by HPLC–DAD. The decoction presented the highest phenolic content, rosmarinic acid and the pair epigallocatechin-3-O-gallate plus epicatechin-3-O-gallate being the main metabolites. Twenty-eight volatile compounds were determined by GC-IT/MS, piperitenone, piperitenone oxide and pulegone being the compounds present in higher amounts. A concentration-dependent effect was noticed against nitric oxide and superoxide radicals. Decoction proved to be the most active extract against all radicals, representing a good, cheap and feasible source to recover natural antioxidants for food industry. Good acetylcholinesterase and butyrylcholinesterase inhibitory capacities were also found for all extracts. As far as we know, this is the first study assessing these biological activities.