Germinated and raw finger millet (Eleusine coracana) and pearl millet (Pennisetum glaucum) were investigated for their physicochemical (pH, total titratable acidity (TTA), proximate, mineral analysis), phytochemical, and antioxidant properties. The results showed that there were decreases in pH (8.50–7.60) with a corresponding increase in TTA (0.0038–0.18 g/L) during germination of the millets. Proximate composition of the millets revealed slight increases in protein (7.61%–7.81%; 10.57%–11.87%) and crude fiber (5.54%–8.81%; 1.07%–2.55%) with reductions in fat (3.84%–2.73%; 7.69%–2.30%) after germination for finger and pearl millet, respectively. The millets were found to be rich sources of minerals, which include magnesium (1,028.42–1,763.50 ppm), calcium (36.42–4,158.40 ppm), sodium (150.00–510.00 ppm), potassium (470.00–4,500 ppm), zinc (20.00–40.00 ppm), and iron (66.00–121.00 ppm) which either decreased or increased with germination. The results of the phytochemical composition revealed that during germination, alkaloid (36.03–74.53 mg/g) and saponin (4.46–31.91 mg/g) contents were found to increase while there were reductions in tannin (0.88–1.64 mg/g) and phytate (7.00–17.72 mg/g) content of the flour. For finger millet, DPPH ranged from 70.00% to 72.14% and pearl millet (49.95%–64.01%), while for FRAP, pearl millet (53.69–53.76 mg/g) demonstrated better activity compared to finger millet (46.91–53.54 mg/g). Findings from this work may suggest that further studies should be carried out on germinated finger and pearl millets to examine their abilities to serve as functional foods.