The objective of this study was to investigate antioxidant activities of Panax ginseng extracted with various solvents including n-hexane, chloroform, EtOAC, n-butanol and water. Among the various ginseng extracts, ethyl acetate (EtOAC) extracts showed the most powerful scavenging activities against DPPH radicals. Among the other solvent extracts, the butanol extract seemed relatively more effective in scavenging activity, followed by chloroform, water and hexane extracts. Moreover, the highest reducing power and ferrous ion chelating activity were found in the EtOAC extract followed by other extracts of ginseng. EtOAC extracts, which exhibited the best antioxidant activities of all solvent extracts of ginseng, possessed higher concentrations of total phenolics (777.61 mg/100 g) than other extracts. These results suggest that EtOAC extracts of ginseng (P. ginseng C.A. Meyer) have the most effective antioxidant capacity compared to n-hexane, chloroform, n-butanol and water tested in this study, and has important applications for the pharmaceutical and food industries.