The present study was conducted to demonstrate the antioxidant and anticancer effects of methanol extract of the aerial parts of Aerva lanata Linn. In vitro antioxidant potentiality was tested using DPPH radical scavenging test, total phenol and flavonoid content and reducing power determination assays. The extracts showed moderate antioxidant activity in a dose dependentmanner. In vivo anticancer activity was studied against Ehrlich Ascites Carcinoma (EAC) cells in Swiss albino mice by monitoring parameters like tumor weight measurement, survival time and tumor cell growth inhibition. It has been found that the compound at the dose of 40 mg/kg/day (i.p) significantly decreases tumor weight, increases life span and reduces tumor cell growth rate in comparison to those of EAC bearing mice receiving no extract. These results suggest that methanol extract of the aerial parts of Aerva lanata could be a source of natural anticancer and antioxidant compounds. In vitro cytotoxicity of the same extract was also assessed to link the finding with the potent anticancer activity of the experimental extract ($LC_{50}$ less than 50 ${mu}g/ml$).