Pinus mugo Turra is a shrub-like conifer with multiple healing properties. P. mugo extracts are rich in active ingredients such as volatile compounds, tannin, higher alcohols, vitamins, and minerals. In this study, we identified and quantified the secondary metabolites from buds and needles of P. mugo harvested from three different mountain areas in Romania. The main volatile compounds contained in the extracts were analyzed by gas chromatography coupled with mass spectrometry, and the most significant were pinene, germacrene, limonene, and caryophyllene. The total polyphenol content (TPC) was in the range of 46.77 ± 0.3 and 77.99 ± 0.5 mg GAE/g and the total flavonoid content (TFC) 24.90 ± 0.1 and 54.78 ± 0.3 mg QE/g. The content of ascorbic acid ranged between 12.21 mg/100 g and 27.34 mg/100 g, concentrations that are recommended for natural sources of ascorbic acid. Moderate antimicrobial activity on yeasts and molds was not dependent on plant origin. By highlighting the rich content of active compounds, and moderate antioxidant and antifungal activity, this study is an argument for the beneficial use of P. mugo bud and needle extracts, regardless of the habitat of origin on the Romanian territory, in the fields of medicine and the food industry or in the implementation of eco-friendly practices.