Functionalized nanoparticles (NPs) attract great attention in pharmacy, diagnostics, and biomedical areas due to benefits like localization and unique interactions of NPs with biocomponents of living cells. In the present paper, we prepared and characterized two kinds of gold nanoparticles (AuNPs) coated with α-tocopherol-like residues: 1A were soluble in non-polar solvents and their antioxidant activity was tested during the peroxidation of a model hydrocarbon in a homogeneous system, whereas nanoparticles 1B were soluble in polar solvents and were applied as antioxidants in micellar and liposomal systems. The effectiveness of 1A is comparable to 2,2,5,7,8-pentamethylchroman-6-ol (PMHC, an analogue of α-tocopherol). Taking the results of the kinetic measurements, we calculated an average number of 2150 chromanol residues per one NP, suggesting a thick organic coating around the metal core. In heterogeneous systems, the peroxidation of methyl linoleate dispersed in Triton X-100 micelles or DMPC liposomes resulted in the observation that 1B (545 chromanol residues per one NP) was active enough to effectively inhibit peroxidation in a micellar system, but in a liposomal system, 1B behaved as a retardant (no clear induction period). The importance of microenvironment in heterogeneous systems on the overall antioxidant activity of nanoparticles is discussed.