This study was planned to investigate the effect of 40 plant ethanolic extracts on antioxidant activities in vitro. The total phenolics, $eta$-carotene, $alpha$-tocopherol and selenium contents were also determined . Antioxidant activities fo the ethanolic extracts(0.02%, w/w) in the soybean oil were measured both by determining the peroxide value (POV) during 35 days of storage at 4$0^{circ}C$ in a forced draft air-incubator and by determining changes in conductivity at 11$0^{circ}C$(Rancimat method.). Soybean oil without any additives was used as a control and that treated with 0.02% BHT was used as a positive control. Based on the POV determination, green tea extract was found to be the most effective in stabilizing soybean oil, then followed by long tea, which both of them showed higher antioxidant activities compared to the BHT treatment. The antioxidant activities of them showed higher antioxidant activities compared to the BHT treatment. the antioxidant activities of coffee, cinnamomi cortex, acanthopanacis cortex, black tea, orange peel , instant coffee, peony and crni fructus extracts were stronger compared to the control .By the Rancimat method, green tea leaf and oolong tea leaf, foxglove, acanthopanacis cortex and peony extracts. Compared to other extracts, green tea leaf, black tea leaf, foxglove, acanthopanacis cortex and peony extracts had stronger antioxidative effects in both the POV and Rancimat methods used in this study. ethanolic extracts which showed the stronger antioxidative effect also has the higher contents of total phenolics, $eta$-carotene, and/or $alpha$-tocopherol. The antioxidative effect of ethanolic extracts was found to be due to the combined effect of various antioxidants.