The forest of India is the principal repository of a large number of medicinal and aromatic plants; they are the richest source of bioactive compounds, which are largely collected as raw materials for the manufacture of drugs and perfumery products. The present study deals with five different medicinal plants viz., Polyalthia longifolia, Anonna muricata, Elephendopus scaber, Senna alata, and Hyptis suaveolens, for identifying their chemical constituents. The qualitative and quantitative analysis was performed using methanol extracts of leaves of selected medicinal plants. Total phenolic, flavonoid, tannin content, total antioxidant capacity, DPPH scavenging activity, and ABTS assay of the extracts were determined by spectrophotometric methods. Phytochemical analysis revealed the presence of alkaloids, flavonoids, terpenoids, glycosides, steroids, and saponins. A. muricata and H. suaveolens showed higher phenolic content. A. muricata, H. suaveolens, and P. longifolia showed significant antioxidant activity. All the extracts exhibited varying quantities of flavonoid, tannin, and alkaloid content. The presence of various bioactive compounds in the tested plants reveals that the selected medicinal plants may be a good source for production of new drugs for various ailments.