Effects of rice cultivars and degree of milling (DM) on composition, pasting properties, total phenolic contents, and distribution of phenolic acids were investigated. Rice and bran fractions with 94.4, 92.0, and 90.4% milling yields from brown rice of four cultivars (Odae, Nampyung, Chucheong, and Ilmi) were used. Fat and ash contents of milled rices decreased with increasing DM, whereas protein contents were not affected. In rice bran, differences in fat and ash contents by cultivars were higher than those caused by DM. With increasing DM, gelatinization temperature of rice flour decreased, whereas peak viscosity and hold viscosity at $95^{circ}C$ increased. While cold viscosity, final viscosity, and setback varied among cultivars, DM had little effect. Total polyphenolic contents in brown rice, milled rice, and rice bran were 93.9-88.8, 30.3-71.9, and 310.0-541.6 mg catechin eq/100g, respectively. Major phenolic compounds were identified as ferulic and p-coumaric acids. Total phenolic content of brown rice (65.9-27.9 mg%) decreased with increasing DM, whereas ratio of ferulic acid composition increased. Chucheong and Ilmi varieties showed biggest reduction of phenolic acid contents by milling. In rice bran, ferulic and p-coumaric acids were 157.8-240.2 and 31.8-90.4 mg%, respectively. Contents of sinapinic, benzoic, and m-hydroxybenzoic acids in rice bran were higher than those of brown and milled rices.