The purpose of this study was to investigate essential oils (EOs) from leaves of Elionurus muticus growing in Northeastern Argentina regarding their physicochemical profiles as well as their biological potential. Roots of a selected E. muticus population were investigated too. For this purpose, EOs of fresh materials were obtained by steam distillation and the chemical composition was characterized by gas chromatography GC/MS‐FID. Antibacterial, antioxidant and eco‐toxicity activities of the essential oils (EOs) were tested by in vitro assays. The EOs showed three E. muticus chemotypes: citral (neral+geranial), acorenone+bisabolone, acorenone+geranial. EO of roots of citral population contains mainly acorenone derivatives. EOs have high antibacterial effect against Staphylococcus aureus, being found minor antibacterial effect against Gram‐negative bacteria. The half‐maximal inhibitory concentration of EOs against DPPH⋅ were 7.1–30.0 mg/mL and the eco‐toxicity was high with LD50 <39 μg/mL. Based on the findings, given the high variability in their chemical composition and biological activity of E. muticus EO and the promising yields, it could be potentially chosen for industrial applications.