This study was designed to evaluate the antioxidant, antimicrobial, antibiofilm, and anticholinesterase activities of different solvent fractions from non-fermented (NF) and Lactobacillus rhamnosus fermented deodeok (Codonopsis lanceolata) (LRF). The highest amounts of total phenols and flavonoids were observed in chloroform fraction from NF (72 and 31 mg RE/g) and LRF (79 and 24 mg RE/g). The ferric reducing antioxidant power (FRAP) values were highly correlated with the DPPH scavenging activity, showing that the highest FRAP values were observed in chloroform fractions from NF (35 mM Fe(II)/g) and LRF (50 mM Fe(II)/g). Staphylococcus aureus biofilm cells were highly susceptible to chloroform fraction, showing 1.8 log reductions. The highest anticholinesterase activity was observed in chloroform and ethyl acetate fractions from LRF (1.5 mg/mL< $EC_{50}$ <2.5 mg/mL). The results provide useful information for improving pharmacological activities and also suggest new direction for developing biologically active compounds from medicinal plants.