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Barks, roots, fruits, buds, leaves and other parts of plant are considered as source of essential aromatic oils to cure several ailments. The antioxidant property has been shown to be important in recovery from several diseases. The essential oil extracted from eucalyptus leaves was tested for phytochemical analysis and antioxidant activities. The Eucalyptus oil extracted from the leaves of Eucalyptus globulus family Myrtaceae was screened for the presence of phytochemicals and their effect on 2, 2-Diphenyl-1-picryl-hydrazyl radical (DPPH) and Nitric oxide free radical. Phytochemical screening of the plants showed the presence of flavonoids, terpenoids, saponins and reducing sugars. Eucalyptus globulus is not having any cardiac glycosides and anthraquinones. The free radical scavenging activity of the different concentrations of the leaf oil (10, 20, 40, 60 and 80% (v/v) in DMSO) of E. globulus increased in a concentration dependent fashion. In DPPH method, the oil in 80% (v/v) concentration exhibited 79.55 ± 0.82%. In nitric oxide radical scavenging assay method, it was found that 80% (v/v) concentration exhibited 81.54 ± 0.94% inhibition. It was concluded that leaf oil is potent inhibition of free radicals.