The aim of this work was to perform the phytochemical analysis as well as antioxidant and anticholinesterase potential of hot water and methanolic extracts from Mentha pulegium L., Lamiaceae, wild growing in Bosnia and Herzegovina. It is a plant that is traditionally used in Bosnia and Herzegovina medicine to treat gastrointestinal and neurological disorders. By HPLC‐DAD analysis of tested extracts, 15 phenol compounds were identified and quantified. Rosmarinic acid was the most abundant compound in both extracts, followed by ellagic acid, eriodictyol, naringenin and chlorogenic acid. Both extracts were demonstrated good radical scavenging potential, reducing power and ability to inhibit lipid oxidation. The tested extracts also showed low ability to inhibit protein oxidation and low or no acetylcholinesterase and butyrylcholinesterase inhibition potential. The promising radical scavenging potential, reducing power and lipid protection potential of tested extracts indicates that the extracts of M. pulegium could be useful in preventing free radical linked diseases, as well as food protecting antioxidants.