The purpose of this study was to investigate the antioxidative effect and quality characteristics of cookies made with Lycii fructus powder(LFP). The cookies were stored at $50^{circ}C$ for 40 days. The LFP additive increased the moisture, ash, crude protein and volume of the cookies. When LFP was added at $5\%$ into the cookies, the spread ratio was higher than for the control, the $10\%$ and the $20\%$ LFP cookies. As more LFP was added, the L-value decreased, and the a--values and b-values increased for the color values. For the textural characteristics, springiness and cohesiveness of the control cookies were the highest among the samples, the other side, brittleness and gumminess were higher in cookies made with LFP than in the control cookies. Overall, the cookies made with $5\%$ LFP were preferred more than the other cookies, as tested forby sensory evaluation. The cookies made with LFP contained mostly palmitic acid (C16:0) followed by oleic acid (C18: 1) and stearic acid (C18:0). The acid value, peroxide value, and thiobarbituric acid value were lower in cookies made with $5\%$ and $10\%$ LFP than in those cookies made with $20\%$ LFP and the control cookies.