Plasma‐activated solutions (PAS) are attracting attention in biomedicine, however their complexity necessitates a greater understanding of both the plasma activation process and the selected starting solution. Here, five solutions, including deionized water, saline, PB, PBS, and RPMI 1640, were treated to investigate the physicochemical properties and anticancer effects. The findings show that the different solutions largely affected the gas–liquid interaction reactions and the color penetration distribution of H2O2 and NO2−. The anticancer effects are in the order of DI > PB≈saline> PBS > RPMI 1640, attributed to the important role of H2O2 and NO2− in inactivating cancer cells. This study provides insights into designing and applying PAS in practical anticancer therapy.