Curcuma zedoaria (Christm.) Roscoe is a member of Zingiberaceae family (Ginger family), which is traditionally used for the treatment of carminative, digestive stimulant and microbial infection. In India, especially, in Andhra Pradesh and in the southern parts of Orissa, dried and powdered rhizome of Curcuma zedoaria is used as for the prevention and cure of various skin infections. Five different phytocompounds were isolated and characterized from the rhizome part of the plant - Curcuma zedoaria. All the isolated compounds were screened for their antioxidant and anticancer activities. The isolated compounds showed potent antioxidant activity and only ursolic and corrosolic acids exhibited potent anticancer activities against HT-29 colon cancer cell lines.