The antioxidant activity of five indigenous rice bran varieties, i.e. Rice bran-Super kernel (RB-kr), Rice bran-Super 2000 (RB-s2), Rice bran-Super Basmati (RB-bm), Rice bran-Super-386 (RB-86) and Rice bran-Super fine (RB-sf), collected from the same agricultural plots, was evaluated. The order of antioxidant activity was evaluated by measurement of total phenolic content, antioxidant activity in linoleic acid system, reducing power, metal chelating ability, scavenging capacity by DPPH radical and ABTS cation radical and conjugated dienes. Determination of major antioxidant components reported in rice bran, i.e. tocopherols, tocotrienols and γ-oryzanol, was made using reverse phase HPLC. However, for comparison of tocopherol content, quantification was also done by voltammetry. The overall order of antioxidant activity was RB-kr > RB-s2 > RB-bm > RB-86 > RB-sf. However, according to the chelating activity and conjugated dienes assays the antioxidant efficacy of RB-sf was higher than RB-bm and RB-86. Antioxidant power was correlated with growth period and irrigation water demand by a particular variety. A strong correlation of these two parameters with antioxidant activity was observed. RB-kr has the longest growth period and takes the least amount of water out of the series and exhibits highest antioxidant activity. Strongly reverse behavior was observed in case of RB-sf.