Leaf extract of Stevia rebaudiana promotes effects on certain physiological systems such as the cardiovascular and renal and influences hypertension and hyperglycemia. Since these activities may be correlated with the presence of antioxidant compounds, leaf and callus extracts of Stevia rebaudiana were evaluated for their total phenols, flavonoids content and total antioxidant capacity. Total phenols and flavonoids were analyzed according to the Folin–Ciocalteu method and total antioxidant activity of water and methanolic extracts of stevia leaves and callus was assessed by ferric reducing/antioxidant power (FRAP) assay as well as 1,1-diphenyl-2-picrylhydrazyl (DPPH) assay. The total phenolic compounds were found to be 25.18 mg/g for stevia leaves and 35.86 mg/g for callus on dry weight basis. The flavonoids content was found to be 21.73 and 31.99 mg/g in the leaf and callus, respectively. The total antioxidant activity was expressed as mg equivalent of gallic acid, ascorbic acid, BHA and trolox per gram on dry weight basis. Total antioxidant activity found was ranged from 9.66 to 38.24 mg and 11.03 to 36.40 mg equivalent to different standards in water and methanolic extract of stevia leaves, respectively. In case of stevia callus, it was found to be 9.44 to 37.36 mg for water extract and 10.14 to 34.37 mg equivalent to standards for methanolic extract.