Abstract: Nymphaea lotus L. is a perennial aquatic plant used in traditional medicine system as an aphrodisiac, anodyne, astringent, cardiotonic, sedative, analgesic and as anti-inflammatory agent. The present study evaluates the phytochemical constituents and in vitro antioxidant potential of the aqueous and acetone extracts of the plant, using spectrophotometric techniques. The quantities of phenols, tannins, saponins and steroids were significantly higher (p<0.05) in the aqueous compared to the acetone extract while the proanthocyanidins and flavanols were significantly higher (p<0.05) in the acetone than the aqueous extract. The acetone extract of the plants displayed better DPPH and NO radical scavenging activity than the aqueous extract and this reflected in its low IC50 (0.016 mg mL-1) which compares favourably with the standards. Conversely, aqueous extract of the plant showed better ABTS radical scavenging ability (IC50 0.04 mg mL-1) than the acetone extract (IC50 0.15 mg mL-1) while they displayed the same H2O2 scavenging abilty (IC50 0.1 mg mL-1). The present study revealed that N. lotus is very rich in phytochemicals and is a good source of natural antioxidants. This confirms and validates its use for the treatment of several diseases in human.