The peroxide-decomposing activities of phospholipid fractions obtained from krill, egg yolk, soybean, rice bran, and sunflower seed were compared. The peroxide-decomposing activities of the total lipids depended upon the phospholipid contents. The phospholipid fractions from krill, egg yolk, and soybean did not show any antioxidative activities, but the peroxide-decomposing properties which varied somewhat among the sources were clearly observed. The most peroxide-decomposing activity was demonstrated by the phospholipid fraction of krill, followed by that of egg yolk. The existence of oxidation products of phospholipids were presumed to be responsible for the decomposition of lipid peroxides.