In this study, the antioxidative potential of a hydroalcoholic extract of Nardostachys jatamansi (NJE) rhizomes was evaluated by various antioxidant assays, including antioxidant capacity by the phosphomolybdenum method, total antioxidant activity in linoleic acid emulsion systems, 1,1-diphenyl-2-picrylhydrazyl (DPPH), superoxide, hydroxyl radicals, nitric oxide (NO) scavenging, metal chelating and reducing power activity. These various antioxidant activities were compared with standard antioxidants such as butylated hydroxytoluene, tocopherol, catechin, and L-ascorbic acid. Total phenolic and flavonoid content of NJE was also determined by a colorimetric method. The extract exhibited high reduction capability and powerful free radical scavenging, especially against DPPH and superoxide anions as well as a moderate effect on NO. Moreover, the peroxidation inhibiting activity of NJE was demonstrated in the linoleic acid emulsion system. The results obtained in the present study clearly established the antioxidative potency of NJE, which may account for some of the medical claims attributed to this plant.