A series of novel Schiff base tetradentate ligands and its iron (III) coordination compounds were synthesized, characterized and evaluated for antibacterial and antioxidant activity. All the synthesized ligands and complexes were characterized by spectroscopic and crystallographic techniques. Electronic spectra, Mössbauer spectra, magnetic moment and conductance study evidence the fact of octahedral arrangement around iron (III). The in vitro antimicrobial Schiff base complexes bear polar and nonpolar properties together; this makes them suitable for permeation to the cells and tissues, it enhances the activity against the bacteria. The antioxidant properties were measured with DPPH (2,2’-diphenyl-2-picrylhydrazyl). These properties were due to the unique feature of ligands such as highest lipophilicity, lowest electron withdrawing power and highest polarisability.