Tubers of Amorphophallus species are used as an ingredient in ayurvedic formulations. The tuberous roots of the species of Amorphophallus campanulatus Bl. are used traditionally for the treatment of piles, abdominal pain, tumors, enlargement of spleen, asthma and rheumatism, beside stomachic and appetizer properties. In this investigation the tubers of Amorphophallus commutatus (Schott) (ACT) and Amorphophallus paeonifolius (Dinnst.) (APT) were extracted with three different solvents (ethanol, acetone and water) and screened for total phenolic content and antioxidant activity. Acetone extracts of ACT and APT exhibited the highest phenolic content 17.66±0.44 and 15.90±0.25 mg GAE/g respectively. The compounds that were identified by the HPLC included tannic acid, gallic acid, quercetin, p-coumaric acid and catechin. The ACT and APT acetone extracts also possesses highest antioxidant activity towards Ferric reducing antioxidant power (0.554 & 0.541 O.D), 1, 1-diphenyl-2-picrylhydrazyl (79.4% & 74.52%), hydroxyl radical scavenging activity (66.45% & 64.29%) and nitric oxide radical scavenging activity (67.5% & 59.11%). Positive correlation was observed between total phenolic content and various antioxidant activities indicated that such extracts could have good applications in nutraceutical and other pharmaceutical formulations.