In order to determine oxidative stress in equine joints with degenerative processes, we analyzed synovial fluid (SF) antioxidant capacity and the concentration of oxidative damage biomarkers in healthy and chronically damaged metacarpophalangeal joints. SF samples were collected from joints of thirty 2-5 year-old crossbreed male equine, macroscopically classified at post mortem inspection and later histologically confirmed. The antioxidant capacity was determined measuring uric acid and the concentration of sulfhydryl groups and the total radical trapping antioxidant potential (TRAP). The oxidative damage was determined by assessing malondialdehyde (MDA) and carbonyl protein concentration. TRAP was significantly higher (p < 0.05) in the group with chronic damage (CD). The sulfhydryl groups and concentration of uric acid did not show significant difference between the groups (p > 0.05). Although carbonyl concentration did not show significant difference between groups, it was slightly higher in the group with CD (p = 0.05009). Concentration of MDA did not show significant difference (p > 0.05) between groups. The observed significant increase in TRAP in the group with CD could be related to the participation of components other than protein, sulfhydryl groups, or uric acid coming from degenerating joint tissues. These findings could be helpful for a better understanding of the oxidative stress role in equine joints with chronic degenerative process.