The color intensity (Absorbance at 490nm) and the antioxidant effects of absolute and 90% ethanol extracts obtained from a Maillard-type browning reaction mixture (0. 5M glucose and 0. 5M glycine mixture, heated at $100^{circ}C$) were determined. The color intensity of the absolute and 90% ethanol extracts were compared with the length of reaction time and the antioxidant effects of the extracts of both types were compared one another. The results obtained are as follows. 1. The color intensity of the absolute ethanol extracts remained almost unchanged as the browning reaction proceeded. The color intensity of the 90% ethanol extracts appeared to increase nearly in proportion to the length of reaction time. 2. The absolute and the 90% ethanol extracts seemed to possess significant antioxidant activity on the autoxidation of an edible soybean oil. which was kept at $45{pm}0.5^{circ}C$ for 21 days. It was noteworthy that the absolute ethanol extracts showed stronger antioxidant effects than those of the 90% ethanol extracts, which contained a far greater amount of brown-colored pigments. Since the PVs of the controls in both groups, after the end of the storage period, did not differ much from one another, the possibility of residual water playing some prooxidant role in the substrates containing the 90% ethanol extracts should be ruled out. Extracts of both types obtained at earlier stages of the brownig reaction demonstrated less but comparable antioxidant activity to that of extracts taken at later stages of the reaction. 3. The results of the present study appeared to suggest that the effective antioxidant compounds, produced in the Maillard-type browning reaction, were probably intermediate products such as reductones formed at fairly earlier stages of the browning reaction.