The objective of this study was to evaluate the antioxidant effects and acetylcholinesterase (AChE) inhibition activity of mulberry fruit extracts prepared by hot water (MFH) and 80% ethanol (MFE). Total polyphenolic contents of MFH and MFE were $195{pm}3.4;mg$ gallic acid equivalents/g MFH and $185{pm}2.8;mg$ gallic acid equivalents/g MFE. MFH and MFE significantly quenched 2,2-diphenyl-1-picrylhydrazyl (DPPH), hydrogen peroxide dose-dependently, and showed high chelating ability and reducing power in non-cellular systems. MFH and MFE also inhibited the formation of intracellular reactive oxygen species and lipid peroxidation, and elevated intracellular glutathione (GSH) levels in RAW264.7 cells. In addition, MFH and MFE also dose-dependently suppressed AChE activity.