Kiwifruit hold significant nutritional value and are a good source of antioxidants due to their diverse range of bioactive compounds. Kiwifruit waste is generated throughout the food supply chain, particularly during transportation and storage. Kiwifruit rejected from the retail market due to unfavorable appearance still possess potential economic value as kiwifruit are abundant in phenolic compounds. The present work studied the phenolic profile and antioxidant potential of rejected kiwifruit, including SunGold (Actinidia chinensis), Hayward (Actinidia deliciosa), and round organic Hayward (Actinidia deliciosa). Regarding phenolics estimation, SunGold possessed the highest TPC (0.72 ± 0.01 mg GAE/g), while Hayward exhibited the highest TFC (0.05 ± 0.09 mg QE/g). In antioxidant assays, SunGold showed the highest antioxidant activities in DPPH (0.31 ± 0.35 mg AAE/g), FRAP (0.48 ± 0.04 mg AAE/g), ABTS (0.69 ± 0.07 mg AAE/g), •OH-RSA (0.07 ± 0.03 mg AAE/g) assays, and FICA (0.19 ± 0.07 mg EDTA/g), whereas Hayward showed the highest RPA (0.09 ± 0.02 mg AAE/g) and TAC (0.57 ± 0.04 mg AAE/g). Separation and characterization of phenolics were conducted using LC-ESI-QTOF-MS/MS. A total of 97 phenolics were tentatively characterized from rejected SunGold (71 phenolics), Hayward (55 phenolics), and round organic Hayward (9 phenolics). Hydroxycinnamic acids and flavonols were the most common phenolics characterized in the three samples. The quantitative analysis was conducted by HPLC-PDA and found that chlorogenic acid (23.98 ± 0.95 mg/g), catechin (23.24 ± 1.16 mg/g), and quercetin (24.59 ± 1.23 mg/g) were the most abundant phenolics present in the rejected kiwifruit samples. The notable presence of phenolic compounds and their corresponding antioxidant capacities indicate the potential value of rescuing rejected kiwifruit for further utilization and commercial exploitation.