This study was conducted to compare and analyze the qualitative property of MLT (mulberry leaf tea) and FMLT (fermented mulberry leaf tea) based on the antioxidant, anticancer activities of various extracts. When the antioxidant activity of MLT and FMLT extracts was evaluated, the electron donating activity was found to increase proportionally as the concentration of each extract increased. In addition, the extract of FMLT showed a higher electron donating activity than that of MLT. Furthermore, the ethanol extracts showed the highest electron donating ability. When the SOD activity was evaluated, it was also found to increase proportionally with the concentration of each extract. Furthermore, the SOD activity of the ethanol extract group was the highest, whereas the SOD like activities of both MLT and FMLT were similar. When nitrite decomposition was evaluated for each pH, the highest value was observed at pH 1.2. Finally, the nitrite deleting ability was the highest for the ethanol extracts. When each extract of MLT and FMLT was analyzed in vitro for anticancer effects, they were found to decrease the number of cancer cells proportionally as the concentration of extract increased for both HeLa cells and MCF-7 cells. Furthermore, FMLT was found to exert a greater inhibition of cancer cells than MLT. Among the extract groups, the ethanol extract induced the greatest inhibition of the development of cancer cells, and these effects were greater against MCF-7 cells than HeLa cells.