Aim Alkaloid (AF), essential oil (EOF), flavonoid (FF), saponin (SF) and polysaccharide (PF) fractions obtained from Oxytropis falcata Bunge were investigated for their anti-inflammatory and antioxidant activities in vivo and in vitro for the first time. Method Two anti-inflammatory animal models (TPA- and carrageenin-induced) and three antioxidant models (total antioxidant activity, DPPH and hydroxyl radical-scavenging activity) were employed to evaluate the anti-inflammatory and antioxidant activities of O. falcata fractions. Animal models of acute inflammation and subacute inflammation were adopted to probe the possible anti-inflammatory mechanism. Results Flavonoids were major active constituents responsible for the anti-inflammatory and antioxidant activities of O. falcata. The anti-inflammatory mechanism of FF may be due, at least in part, to the inhibition of PGE2 levels, decrease of MDA levels and enhancement of SOD, CAT and GSH-Px activities without inducing any gastric damage. Conclusion The results provide evidence to support the folk medicinal utilization of O. falcata for the treatment of inflammation.