Red yeast rice (RER) has been used in China for centuries for its medicinal properties and is an increasingly popular alternative lipid-lowering treatment. This study was carried out to estimate the antioxidant properties of RER extracts. The ethyl acetate extract exhibited the DPPH radical scavenging activity of 85% at 0.2 mg/mL and $IC_{50}$ 0.13 mg/mL. A significant proportion of hydroxyl radicals in a cuvette were scavenged: 44.2% at 2.5 ${mu}g$/mL, 74.1% at 5.0 ${mu}g$/mL, and >100% at 10 ${mu}g$/mL. The $HepG_2$ cells pre-treated with RER ethyl acetate extract reduced the hydroxyl radicals significantly compared to the control cells. Oxidative DNA damage was measured using a Comet assay. The RER ethyl acetate extract did not induce any DNA damage per se, and appeared to enhance the resistance to DNA damage caused by an oxidant challenge with $H_2O_2$, whereas lovastatin increased the level of DNA damage in the cells in both the unstressed (no oxidant) and those stressed with $H_2O_2$. The relative gene expression of the antioxidant enzymes in $HepG_2$ cells were also affected by the RER ethyl acetate extract. The $HepG_2$ cells were pre-incubated with the RER ethyl acetate extract, and then stressed with $H_2O_2$ or left unstressed (no oxidant). In the unstressed cells, superoxide dismutase (Cu/Zn SOD) and glutathione peroxidase (GPx) were increased significantly 3.25-fold and 2.67-fold, respectively, whereas in the stressed cells, the catalase (CAT) level was increased by 4.64-fold and 7.0-fold at 5 ${mu}g$/mL and 10 ${mu}g$/mL, respectively, compared to those of the control. From these results, RER appears to be effective in suppressing oxidative stress.