Plants are a good source of natural antioxidants and could provide protection against harmful free radicals. Phenolic compounds were found to be an important part of human diet and are considered as active principles in many medicinal and agricultural plants. Detailed information about health-promoting components of different soybean cultivars could lead to a better understanding and an increased consumption of this crop, including its use in functional foods. The objective of this study was to determine total phenolics, total tannins, total flavonoids and antioxidant capacity with different assays of five Serbian soybean cultivars (Merkur, Sava, Valjevka, Venera and Victoria) extracted with three different solvents (70% acetone, 70% ethanol and 70% methanol). Total phenolics varied among cultivars and among applied solvents. Antioxidant properties highly depended on a solvent used for extraction. Such results highlight an existing variability in soybean seeds and emphasise the need to evaluate diversity and to support conventional breeding programs to improve soybean nutritional value.