Phenolic compounds contribute to the antioxidant property of plants and the efficient extraction of plant phenolics could enhance its antioxidant potential. Lagerstroemia speciosa (L.) Pers. has been investigated for its pharmacological activities, but comparing its antioxidant activities of phenolics derived from its various parts has a key role in developing natural antioxidants. This study was conducted to standardize the extraction of phenolics from leaves, pods and branches of L. speciosa plant, followed by determination of antioxidant activities of their solvent fractions. Phenolic compounds were extracted from the leaves, pods and branches under different parameters such as temperature, pH, type of solvent and volume of the solvent. The extracted phenolic compounds were subjected to solvent fractions and antioxidant assays were performed. Among the various extraction methods tested, the best method was 50% ethanol +1% HCl, refluxing temperature, 100 ml of solvent and 1 hour extraction time. The best solvent fractions were determined as NaHCO3 + ethyl acetate for pods and ethyl acetate alone for leaves and branches with extracted phenolics content of 150.2 mg/g, 136.2 mg/g and 82.9 mg/g, respectively. The chloroform fraction was best among the fractions with maximum ascorbic acid equivalent (ASE) in all the parts of L. speciosa tested. Ferrous ion chelating capacity indicated that butanol fraction had the highest chelation and the same was recorded in ferric ion chelating assay with an EC50 value of 28.2. Hydroxyl radical scavenging activity of the fractions indicated that NaHCO3 + EtOAc fraction of pods had potential activity. Thus, the phenolic compounds from L. speciosa are excellent sources for future investigation on potent natural antioxidant compounds.