A one-pot three-component protocol for the preparation of novel phenyl and purine substituted derivatives of quinazolinones through the reaction of 7H-purin-6-amine, cyclohexane-1,3-diketone and aromatic aldehydes in acetic acid is reported. A broad range of quinazolinones were obtained in 55−82% overall yield. In this article, we describe the identification of the good oxidation inhibitors (IC 50 values of 13, 16, 22 and 25 µM, respectively). Compounds IVf and IVg exhibited excellent in vitro radical inhibition activity against a DPPH radical, providing new opportunities for the series. In vitro antibacterial activity toward bacterial strain was also examined, compounds IVb, IVc and IVi exhibits stronger bacterial activity. Overall, the obtained results suggest that further optimization of activity of the series could provide a strong lead for a new antioxidant and antibacterial drug development program.