The antioxidant properties of five different extracts (Et2O, CHCl3, EtOAc, n-BuOH, and H2O) of Ocimum basilicum L. and Origanum vulgare L. were studied. Antioxidant activity was assessed in six different model systems. Free radical scavenging capacity (RSC) was evaluated by measuring the scavenging capacity of extracts on DPPH, NO, O2·- and OH radical, as well as on hydrogen peroxide (H2O2). In addition, the protective effects on lipid peroxidation in liposomes (LPx) were evaluated by TBA-assay using the Fe2+/ascorbate induction system. The amount of total phenolic compounds and content of total flavonoids was also determined. EtOAc, n-BuOH and H2O extracts of O. basilicum and O. vulgare expressed very strong scavenger activity. Furthermore, the mentioned extracts showed notable inhibition of LPx. On the other hand, Et2O and CHCl3 extracts showed much weaker effect in the neutralization of DPPH, NO and O2·- radicals and the neutralization of H2O2. When examining the production of OH radicals and inhibition of LPx, the Et2O and CHCl3 extracts showed weak prooxidative properties. The observed differences in antioxidant activity could be partially explained by the levels of phenolics and flavonoids in the investigated O. basilicum and O. vulgare extracts.