In this study, we investigated the effect of Cornelian cherry cultivars differing in fruit color (“Yantaryi”—yellow fruits, “Koralovyi”—coral fruits, “Podolski”—red fruits) on physicochemical characteristics, antioxidative properties, and contents of iridoids and polyphenols in meads with the addition of juices made of their fruits. “Trójniak” type meads (1:2 honey to water volume) were manufactured from multifloral honey, to which Cornelian cherry fruit juice was added before fermentation. Concentrations of individual iridoids and polyphenols were determined using HPLC analysis with a thermostat refractometric detector, model RID-10A. The total polyphenol content was determined based on testing with Folin–Ciocalteu (F-C) reagent, whereas the antioxidative properties were determined using DPPH• (2,2-Diphenyl-2-picryl-hydrazyl), ABTS•⁺ (2,2′-Azino-bis(3-ethylbenzo-thiazoline-6-sulfonic acid), and FRAP (ferric reducing antioxidant power) assays. Cultivar of Cornelian cherry fruits influenced both the antioxidative properties and the concentrations of polyphenols and iridoids. The highest concentration of total polyphenols (F-C), accounting for 898.7 mg gallic acid (GAE)/L, was determined in the mead with juice made of red fruits; this mead was also characterized by the strongest antioxidative capabilities measured with ABTS•⁺ and FRAP assays. Among the iridoids determined in the Cornelian cherry meads, loganic acid was found to prevail and its highest concentration, reaching 77.8 mg loganic acid (LA)/L mead, was determined in the mead with the coral-fruit juice. Study results indicate that Cornelian cherry meads have a high content of biologically active iridoids and phenolic acids which display valuable antioxidative properties.