The present study was aimed an investigation of phenol content, radical scavenging activity by DPPH method and to assess curcumin content of rhizomes in both the curcuma species to establish its potential as a therapeutic agent. The ethanolic fraction of Curcuma longa gave the highest yield of crude extract (3.35gm) and demonstrated highest free radical scavenging activity i.e. 74.61±0.02% due to presence of high amount of curcumin and phenolic content. In comparison to C.longa, C.aromatica showed moderate to poor antioxidant activity in compared to Ascorbic acid, DPPH free scavenging assay and IC50 value. The results indicate the use of C.longa as a source of an antioxidant while C.aromatica mat be used in food and cosmetic industries rather than pharmaceutical industries.