Recovery of bioactive compounds from distillery waste could be an option for valorizing this waste. This study investigated how the extraction of polyphenols (which have antioxidant activity) from distillery stillage was affected by solvent type and concentration, extraction time, and method of extraction (conventional solid–liquid extraction, CSLE; ultrasound-assisted extraction, UAE; microwave-assisted extraction, MAE). Although recovery was similar with UAE and MAE, 3 min MAE with 80% ethanol and 80% methanol produced the highest yields of total phenolic content (TPC), total flavonoid content (TFC) and phenolic acids. With CSLE, TPC was 2.1–1.8-times lower than with MAE and 1.7–1.4-times lower than with UAE. Increasing the solvent concentration to 100% significantly decreased recovery. Six phenolic acids were recovered (ferulic and p-coumaric acid predominated), which were present mainly in the free form. There was a significant positive correlation between antioxidant activity, as measured with three methods (one based on the hydrogen atom transfer and two based on single electron transfer mechanisms), and phenolic acid content. With MAE and UAE, polyphenols were recovered more efficiently, with 2.1 times and 1.5 times higher antioxidant activity, and with 15 times and 9 times shorter extraction times, respectively, than with CSLE; thus, they can be considered "green" alternatives to CSLE.