Phenolic compounds such as phenolic acids, flavonoids, and stilbenes comprise an enormous family of bioactive molecules with a range of positive properties, including antioxidant, antimicrobial, or anti-inflammatory effects. As a result, plant extracts are often purified to recover phenolic compound-enriched fractions to be used to develop nutraceutical products or dietary supplements. In this article, we review the properties of some remarkable plant-based nutraceuticals in which the active molecules are mainly polyphenols and related compounds. Methods for the characterization of these extracts, the chemical determination of the bioactivities of key molecules, and the principal applications of the resulting products are discussed in detail.