The effective management of agro-industry organic waste for developing high-commercial-value products is a promising facet of the circular economy. Annually, more than 550,000 tons of waste that is potentially rich in biologically active substances is generated worldwide while processing onions (Allium cepa L.). The antioxidant potential of red, yellow, and white onion husks was studied using FRAP, ORAC, chemiluminescence, and UPLC-ESI-Q-TOF-MS analysis methods. The extraction of phenolic compounds from onion husks was more effective when using an aqueous solution of 70% ethanol as compared with water. Ethanolic extract from red onion husks exhibited the highest TACORAC and TACFRAP values, averaging 2017.34 µmol-equiv. Trolox/g raw material and 2050.23 µmol-equiv. DQ/g raw material, respectively, while the white onion exhibited much lower levels of antioxidants. According to the chemiluminescence results, it was determined that the red and yellow onion husks contained antioxidants of three types of power, while white onion husks only contained medium and weak types. The highest content of flavonoids was found in red onion husks, averaging 1915.90 ± 9.92 µg-eq. DQ/g of raw material and 321.42 ± 2.61 µg-eq. DQ/g of raw material for ethanol and water, respectively, while yellow onion husks exhibited 544.06 ± 2.73 µg-eq. DQ/g of raw material and 89.41 ± 2.08 for ethanol and water, respectively. Quercetin and its glycosides were the most representative flavonoids, and a number of substances with different pharmacological and biological properties were also identified.