Aims: This study investigated the antioxidant, hypolipidemic and angiotensin converting enzyme (ACE) inhibitory effects of flavonoid-rich fraction of H. thebaica on fat-fed obese wistar rats. Study Design: Twenty-five rats were divided into 5 groups of 5 rats each: Control (standard diet, untreated), Obese control (Fat-fed, untreated), Standard control (Fat-fed, treated with 70 mg/kg Atorvastatin), Groups 4 and 5 (Fat-fed, treated with 100 and 250 mg kg-1 flavonoid-rich fraction, respectively). The rats were given high fat diet to induce obesity, after which treatment was administered for fourteen (14) days, and on the 15th day, rats were sacrificed and blood samples collected. Results: From the results, induction of obesity significantly (P<0.05) increased body weight, some lipoproteins, ACE activity, superoxide dismutase, catalase and glutathione peroxidase levels, while HDL cholesterol and malondialdehyde levels decreased. Treatment of obese rats with the standard drug, atorvastatin and flavonoid-rich fraction of H. thebaica significantly (P<0.05) decreased ACE activity, total cholesterol, triglyceride and LDL cholesterol, while HDL cholesterol and malondialdehyde increased. Conclusion: This study has demonstrated that the flavonoid-rich fraction of H. thebaica is hypolipidemic, possesses antioxidant activities, and may contain potent ACE inhibitors.