Psammaplin A (PSA), a naturally occurring biophenolic compound has been demonstrated to deliver significant cytotoxicity to many cancer cell lines. In this article, we investigated the effect of PSA on cell cycle progression of lung cancer cells (A549). It was found that PSA could slightly perturb the cell cycle progression of A549 cells and lead to the cell cycle arrest at G2/M phase, indicating PSA might disturb the mitosis process of A549 cells. In addition, inspired by the two phenolic groups in the structure of PSA, the antioxidant activity of it has been evaluated. Although PSA was weak in scavenging the stable free radical 1,1-diphenyl-2-picrylhyrazyl (DPPH), it showed stronger ABTS radical scavenging activity than ascorbic acid in TEAC assay. Furthermore, it was found that PSA could effectively prevent DNA strand scission induced by oxidative stress. These results suggest that PSA have both cell cycle regulation and antioxidant activities. Herein, we suggest that PSA would be a very interesting and promising candidate to be developed as a multi-function drug.