A Series of 2-((naphthalen-1-yl) methyl)-5-substituted-1,3,4-oxadiazole derivatives were synthesized by refluxing naphthyl acetic acid hydrazide with substituted aromatic acids in presence of phosphorous oxychloride. The intermediate naphthyl acetic acid hydrazide (2) was prepared by treatment of naphthyl acetic acid ester (1) with hydrazine hydrate. The chemical structures of all the twelve synthesized compounds were confirmed by means of IR, 1H NMR and Mass spectral data. All the title compounds were screened for antioxidant activity by Nitric oxide scavenging activity, reduction of DPPH and antibacterial activity using Cup plate method. Among the series of the compounds 4-hydroxy-3,5-dimethoxy (3k), 3-pyridyl (3h), 4-pyridyl (3i) derivatives showed good antioxidant activity in two invitro models. 4-chloro (3b) 4-hydroxy-3,5-dimethoxyderivative(3k), 4-pyridyl (3i) and 3-Pyridyl (3h) derivatives showed good antibacterial activity.