Contents of phenolics and flavonoids, antioxidant activity and cytotoxicity were investigated in the methanol extracts of three different $Taraxacum$ species, $Taraxacum$ $coreanum$, $Taraxacum$ $mongolicum$, and $Taraxacum$ $officinale$. Total phenolics content at $1000mg;kg^{-1}$ was more present in shoot parts than in roots, and was highest in $T.$ $mongolicum$ shoot and root extracts (76.8 and $40.0mg;kg^{-1}$, respectively), followed by $T.$ $coreanum$ and $T.$ $officinale$ ($p$ < 0.05). Total flavonoid level had same tendency to total phenolics among $Taraxacum$ species, showing lower amounts ($6.5{sim}36.4mg;kg^{-1}$) than total phenolics. The antioxidant activity of the methanol extracts from all the species dose-dependently increased. DPPH free radical scavenging activity at $1,000mg;kg^{-1}$ was highest in shoot and root extracts from $T.$ $mongolicum$ by 89.6 and 83.4%, respectively. According to MTT assay, cell viability of Calu-6 (human pulmonary carcinoma) was lowest in the $T.$ $mongolicum$ shoot and root extracts ($IC_{50}$ values=83.4 and $66.4mg;kg^{-1}$, respectively), and followed by $T.$ $coreanum$ and $T.$ $officinale$ (lowest). Calu-6 was more sensitive to the extracts than SNU-601 (human gastric carcinoma). Antioxidative and anticancer activities in three different $Taraxacum$ species was more correlated with total phenolics content ($r^2$=0.0097 to 0.6213) than with total flavonoids level ($r^2$=0.0027 to 0.4627). The results showed total phenolics content and total flavonoids level were highly correlated with anticancer activity and antioxidant activity, and their content and activities were different depending on species.