The main form of processed guava consumption is the sweet guava paste. The aim of this work was determine the main bioactive compounds of red guava and stability of the compounds in conventional and light sweet guava paste during processing and storage. Guava fruit, variety Paluma, were obtained from region of Pelotas-RS-Brazil. The pulp and the sweet guava pastes were prepared, than the sweet guava paste were stored for 12 months at room temperature, in the dark. Bioactive compounds, antioxidant activity and color of pulp and sweet guava paste every three months were analyzed. Red guava pulp and sweet guava paste showed high rates of phenolic compounds, whilst the main carotenoid was lycopene. L-ascorbic acid content were high in guava pulp and in sweet guava paste stored up to six months. Results show that guava pulp and sweet guava paste contain significant amounts of compounds with high antioxidant potential.