ABSTRACT The aim of this study was to evaluate the antioxidant activity of ethyl acetate and methanolic extracts of two marine algae, Nannochloropsis oculata and Gracilaria gracilis. The extracts were assayed for total phenol and flavonoid content, DPPH free radical scavenging capacity, nitric oxide activity, iron chelation activity, and reducing power activity. Total phenol and flavonoid content were found to be high in both algae. Ethyl acetate extracts of both algae were found to exhibit significant antioxidant activity. Ethyl acetate extract of N. oculata exhibited a good capacity for iron chelation, nitrate oxide, and scavenging DPPH free radicals (72.95±2.30, 73.73±1.76, and 39.03±0.97% inhibition at 400 µg mL-1 respectively).