Corn tassel (CT) is a waste part of the corn plant. It is a good co-product and rich in terms of bioactive compounds and phytochemicals. This research tried to show the phenolic profile, antioxidants, anticholinergic activities, and antibacterial properties of CT ethanol extract. The phenolic content analysis of the CT was determined quantitatively by LC-MS/MS, and the antioxidant capacity was measured using ABTS, DPPH, Cu2+–Cu+, and Fe3+–Fe2+ reducing methods. The anticholinergic measurements of CT were detected by inhibition of acetylcholinesterase (AChE). The antibacterial activity was determined by MIC and disc diffusion methods. Many phenolic compounds such as vanillic acid, caffeic acid, fumaric acid, acetohydroxamic acid, butein, myricetin, resveratrol, catechin hydrate, and 4-hydroxybenzoic acid were detected in ethanol extract of CT. The obtained plant ethanol extract had a 7.04% DPPH value, while it showed ABTS activity at 9.45%. Moreover, it had a 0.10 mg/mL inhibition effect on the AChE in terms of IC50 values. The ethanol extract of the CT had an antibacterial property on the investigated bacteria at different ratios. In conclusion, this research aims to consider CT as a source of phenolic compounds and to reveal its bioactive properties and its effects on the treatment of some diseases.