Olivetol is a pioneer in diverse syntheses of tetrahydrocannabinol. It is produced by a type of insects, which is used as a pheromone, antiseptic, or repellent agent. In this study, we evaluated the antioxidant properties of olivetol using various methods including Fe3+−Fe2+ reducing, Cu2+−Cu+ reducing, Fe3+−TPTZ reducing, DPPH• scavenging, ABTS•+ scavenging, DMPD•+ scavenging, superoxide radical scavenging, and Fe2+ chelating effects. The IC50 values of olivetol in the DPPH•, ABTS•+, DMPD•+, •−, and metal chelating assays were 17.77, 1.94, 19.25, 53.30, and 2.83 μg/mL, respectively. In this paper, olivetol showed excellent inhibitory effects against human (h) carbonic anhydrase (CA) isoforms I and II (hCA I and II), acetylcholinesterase (AChE), and butyrylcholinesterase (BChE) enzymes. Both hCA isoenzymes were purified by sepharose-4B-l-tyrosine sulfanilamide affinity chromatography from fresh human blood erythrocytes. Olivetol demonstrated Ki values of 88.05 ± 11.15 nM against hCA I, 178.27 ± 35.94 nM against hCA II, 3.40 ± 0.34 nM against AChE and 2.73 ± 0.18 nM against BChE, respectively. Practical applications While utilizing synthetic antioxidant compounds (such as butylated hydroxyanisole and butylated hydroxytoluene) to hold the quality of ready-to-eat food products has become prevalent, consumer fear or concern about their safety has motivated the food industry to find natural alternatives. Phenolic antioxidant compounds can remove free radical production and/or intercept dissemination of autoxidation. Anticholinergic compounds as drugs are used extensively to treat Alzheimer's disease and peptic ulcer. In the last years, inhibition of carbonic anhydrase enzyme has been considered as a promising factor for pharmacologic intervention in a diversity of disturbances such as glaucoma, obesity, epilepsy, and cancer.