Sweet cherries (Prunus avium L.) are popular fruits around the world with a high nutritional value and abundant phenolic compounds. Phenolic compounds of cherries contribute to positive health benefits. This study aimed at determining the phenolic content and antioxidant activities in four Australian-grown sweet cherry cultivars, including Bing, Ron’s, Merchant, and Lapins, as well as the identification of individual phenolic compounds with liquid chromatography–electrospray ionization–quantum time-of-flight–mass spectrometry (LC–ESI–QTOF–MS²). Lapins exhibits the highest total phenolic content (TPC) value (1.73 ± 0.90 mg gallic acid equivalents (GAE)/g) while Ron’s exhibits the highest total flavonoid content (TFC) value (0.51 ± 0.02 mg QE/g). In 2,2′-azinobis-(3-ethylbenzo-thiazoline-6-sulfonic acid) (ABTS), reducing power assay (RPA), and total antioxidant content (TAC) assays, Merchant exhibited the highest values (0.51 ± 0.07, 1.74 ± 0.04, and 2.79 ± 0.09 mg AAE/g, respectively) and almost showed the highest antioxidant activity. Ron’s presented the highest value (1.21 ± 0.09 mg EDTA/g) in ferrous ion-chelating activity (FICA) assay and exhibits the strongest metal chelating ability. The correlation between phenolic contents and antioxidant assays was observed. In the LC–ESI–QTOF–MS² analysis, a total of 43 phenolic compounds has been detected in four sweet cherry cultivars, including 11 phenolic acids, 25 flavonoids, 5 other phenolic compounds, 1 lignan, and 1 stilbene. Venn graph showed that Lapins has the greatest number of unique compounds. Our study shows the presence of phenolic acids and provides information to be utilized as an ingredient in food, pharmaceutical, and nutraceutical industries.