The antioxidant activities of extracts from Rubus coreanus Miquel (black raspberry) and Morus alba L. (mulberry) fruits were investigated using 2,2-diphenyl-1-picrylhydrazyl (DPPH) assay, 2,2-azino-bis-(3-ethylbenzothiazoline-6-sulfonic acid) (ABTS) assay, and reducing power assay. Aqueous mixtures of ethanol, methanol, and acetone were analyzed in order to determine the most effective extraction solvent for the two fruits. Black raspberry and mulberry extracts with the 60:40 acetone-water mixtures (v/v) showed the highest DPPH radical scavenging activities (56.2 and 85.2%, respectively) compared to the other extraction solvents. The 60% acetone extract was finally selected as an extraction solvent and then sequentially fractionated according to solvent polarity. Among the fractions of the two fruits, the ethyl acetate fraction showed the highest antioxidant activity as well as total phenolic and total flavonoid contents. In addition, there were high correlation coefficients between antioxidant activities and their contents. The EC50 value of the ethyl acetate fraction from mulberry fruit was 2.2 times lower than that of butylated hydroxytoluene (BHT) in DPPH assay. The major phenolic acid and anthocyanin of the two fruits were protocatechuic acid and cyanidin-3-glucoside, respectively.