The objectives of this study were to determine the quality characteristics, antioxidant activity, and cytotoxicity of fermented ginseng wine at each fermentation step. In the first mash with and without ginseng, viable cell counts (total cell, lactic acid bacteria, and yeast) were maximum between 2 to 4 days of fermentation. At the beginning of fermentation, Brix and ethanol contents, and titratable acidity increased, while pH decreased rapidly. At 3 days of fermentation of the second mash with ginseng, the viable cell counts were similar to those without ginseng and then continually decreased. At the end of fermentation, the pH of the second mash with ginseng was 4.00, lower than the pH of the second mash without ginseng, which was 4.35. Alcohol contents of second mashes with and without ginseng were 12.2 and 11.8%, respectively. In the aging period of ginseng and rice wines, the pH, titratable acidity, Brix, and ethanol contents did not change markedly. The results of sensory evaluation showed that fermented ginseng wine had good flavor and high acceptability. In the 1,1-diphenyl-2-picrylhydrazyl radical scavenging activity assay, fermented ginseng wine ($IC_{50}$: 0.394 mg/mL) showed higher antioxidant activity than fermented rice wine ($IC_{50}$: 0.884 mg/mL). The butanol fraction of fermented ginseng wine exhibited weak cytotoxic activity against P388 and HeLa cell lines.