The colored sweet potato, particularly purple sweet potato, has been well known to contain anthocyanins abundantly. This study was conducted to examine the antioxidant properties of purple sweet potato. The chopped purple sweet potato was extracted 2 times with water or acetone for 18 hours at $28^{circ}C$. The antioxidative potential of each solvent extract was assessed by DPPH free radical scavenging activity assay, FRAP assay, and total phenolic contents. The results showed that both extracts had not only high DPPH free radical scavenging activity but had high level of total phenolic compounds. Furthermore, both solvent extracts were found to have antioxidative effects in human colon cancer cells (HCT 116, HT 29) in DCFDA assay. The notable antioxidant activity of purple sweet potato suggests its significant health benefit and deserves further study to develop into functional food ingredient.