Background: This study was carried out to investigate the effect of the steaming process on chemical constituents, free radical scavenging activity, and antiproliferative effect of Vietnamese ginseng. Methods: Samples of powdered Vietnamese ginseng were steamed at $120^{circ}C$ for various times and thei extracts were subjected to chemical and biological studies. Results: Upon steaming, contents of polar ginsenosides, such as Rb1, Rc, Rd, Re, and Rg1, were rapidly decreased, whereas less polar ginsenosides such as Rg3, Rg5, Rk1, Rk3, and Rh4 were increased as reported previously. However, ocotillol type saponins, which have no glycosyl moiety at the C-20 position, were relatively stable on steaming. The radical scavenging activity was increased continuously up to 20 h of steaming. Similarly, the antiproliferative activity against A549 lung cancer cells was also increased. Conclusion: It seems that the antiproliferative activity is closely related to the contents of ginsenoside Rg3, Rg5, and Rk1.