This work aimed to investigate the phytochemical composition, nutritional value, antioxidant, antihemolytic, antihyperglycemic, and antiproliferative activities of flaxleaf fleabane (Conyza bonariensis) leaves. Different concentrations of water and ethanol (0:100, 25:75, 50:50, 75:25, and 100:0 v/v) were used in the extraction process and results showed that the hydroalcoholic extract (50:50 v/v) presented the highest total phenolics, ortho-diphenolics, Folin-Ciocalteu reducing capacity, FRAP, and Fe 2+ chelating ability values. Flaxleaf fleabane leaves (FFL) contained 19.6 g/100 g of fibers and 26 g/100 g of proteins. Ellagic acid, procyanidin A2, caffeic, rosmarinic, gallic, and 2,5-dihydroxybenzoic acids were the main phenolics. This phenolic-rich extract inhibited the lipid oxidation of Wistar rat brain (IC 50 = 863.0 mg GAE/L), inhibited α-glucosidase activity (IC 50 = 435.4 µg/mL), protected human erythrocytes against mechanical hemolysis at different osmolarity conditions, and showed cytotoxic/antiproliferative effects against human ileocecal adenocarcinoma cells (HCT8; IC 50 = 552.6 µg/mL) but no cytotoxicity toward noncancerous human lung fibroblast (IMR90). Overall, FFL showed potential to be explored by food companies to be a source of proteins, natural color substances, and phenolic compounds.Practical Application: Flaxleaf fleabane leaves (FFL) are usually burnt or partially given to cattle, without a proper utilization as a source of nutrients for human nutrition. Here, we studied the nutritional composition, phenolic composition, and toxicological aspects of FFL using different biological protocols. FFL was proven to be a rich source of proteins and dietary fibers and showed antioxidant activity measured by chemical and in vitro biological assays. Additionally, as it did protected human red cells and did not show cytotoxicity, we assume FFL has relative safety to be consumed as a nonconventional edible plant.