This study was carried out to evaluate the antioxidant activity of stevia extracts from Stevia rebaudiana Bertoni leaves. Stevia extracts were prepared by three different methods including hot water extraction (HWE) at $120^{circ}C$ for 4 hr, vacuum extraction (VE) at $65^{circ}C$ for 4 hr under 0.08 MPa, and fermentation of hot water extract (FHWE) using Lactobacillus buchneri. The antioxidant activities measured by radical scavenging activity, ferric-reducing antioxidant potential ability, and thiobarbituric acid reactive substance showed the highest values in vacuum extract. Also, the antioxidant activities of all extracts were higher than those of stevioside and rebaudioside at the same concentrations, known as the major active components in stevia. To define the antioxidative compound in stevia extracts, the total phenol content was measured, and it was shown that the highest contents of total phenolic compounds were in vacuum extract. These results suggest that the antioxidant activity of stevia extract was due to the phenolic compound components. In addition, vacuum extraction was the proper method to prepare stevia extract with higher antioxidant activity.