Implementation of plant extracts that are rich in phytochemicals and have the allelopathic potential for weed management could help reduce the use of chemical herbicides. The present study investigated the herbicidal potential of walnut (Juglans regia L.) leaf extract (WLE) against two weeds, Amaranthus retroflexus L. and Chenopodium album L., by testing in vitro their seed germination and seedling growth, and then evaluated in vivo the oxidative stress of potted plants. The effects of the walnut leaf extract were also tested on maize (Zea mays L.) to eliminate possible negative impacts on a cultivated plant. Total phenolic acids and total flavonoid content in the extract were determined in prior bioassays, followed by separation and analysis of flavonoids and phenolic acids by high-performance liquid chromatography (HPLC). Phytochemical analysis revealed that the obtained extract was notably rich in phenolic compounds, while HPLC analysis confirmed the presence of (+)-catechin, luteolin, myricetin, rutin, (–)-epicatechin, genistin, protocatechuic acid, and caffeic acid as major extract components. The results obtained in bioassays revealed a significant negative impact of the walnut leaf extract on germination and seedling growth of the tested weeds, as well as significant oxidative stress in weeds grown in pots. Although it affected the maize seedling growth in vitro similar to the tested weeds, maize germination was less sensitive to treatment, and the extract did not have a significant negative impact in terms of oxidative stress in maize plants grown in pots. The findings show that walnut leaf extract may have a promising role in replacing chemical herbicides in maize.