In this study, we investigated on antioxidative activity and nitric oxide production inhibitory activity of various solvent extracts of Lespedeza bicolor. The total polyphenol content of the methanol extract was 192.6 mg/g and flavonoid content of the acetone extract was 40.6 mg/g, as the highest content. In DPPH radical scavenging ability, $SC_{50}$ values of the ethanol and methanol extract were exhibited $0.69mg/m{ell}$ and $0.89mg/m{ell}$, respectively. However, in nitric oxide(NO) scavenging ability, $SC_{50}$ values of the acetone was exhibited $0.72mg/m{ell}$ as the highest activity. Moreover, the acetone extract showed strong NO production inhibitory effect in lipopolysaccharide(LPS)-stimulated Raw 264.7 cell. In the cytotoxicity measurement by MTT assay, the extracts were exhibited Raw 264.7 cell viabilities of 92.57~129.04% as nontoxic result in concentration of $65{sim}650{mu}g/m{ell}$. As a result, the acetone extract of L. bicolor could be applicable to functional materials for anti-inflammatory related fields.