The aim of the present study was to characterize the petroleum ether, chloroform, and ethanol extracts of rhizomes of Curcuma leucorrhiza Roxb and to evaluate their biological activities such as anti-oxidant, anti-bacterial, and antifungal activities. Sequential solvent extraction was performed by Soxhlet apparatus using petroleum ether, chloroform, and ethanol, and respective extracts were named as CL-P, CL-C and CL-E. Antioxidant activities of the extracts were evaluated by DPPH, ABTS, and lipid per oxidation assays. Antibacterial and antifungal activities were evaluated against Gram-negative bacteria Escherichia coli (MTCC 739), Gram-positive bacteria Bacillus subtilis (MTCC 121), Micrococcus luteus (MTCC 106), Mycobacterium smegmatis (MTCC 6), fungal plant pathogen Rhizoctonia solani (MTCC 4633) and fungal animal pathogen Aspergillus niger (MTCC 1344) using agar well diffusion method with some modifications. Phytochemical analysis showed that solvent extracts of Curcuma leucorrhiza rhizome contained polyphenol, phenols, quinones, flavonoids, terpenoids, carbohydrates, glycosides, cardiac glycosides, coumarins and alkaloids. All the three extracts used in the study displayed the ability to scavenge DPPH and ABTS radicals and to inhibit lipid peroxidation. The antioxidant efficacy of the three extracts followed the order of CL-E ~ CL-C > CL-P. With regard to anti-bacterial and anti-fungal activity, exacts, CL-E and CL-P were almost comparable to each other and better than CL-C. Specifically, CL-P extract showed maximum antibacterial activity against Micrococcus luteus and antifungal activity against Aspergillus niger. In conclusion, ethanol being a food grade extractant, can be considered in place of petroleum ether and chloroform to prepare the extract from Curcuma leucorrhiza rhizome with significant medicinal values.