This study investigated changes in the phenolic composition, total antioxidant activity (TAA) and starch digestibility in white and brown rice due to three different cooking procedures, and subsequent reheating of cooked rice after storage. Among the analyzed samples, brown rice showed the highest TAA and phenolic content (622.5 mg/kg DW). All cooking methods resulted in significant decrease of phenolic content and TAA of rice (p < 0.05). The greatest loss was observed after processing in rice cooker, which reduced phenolic content of both brown and polished rice by ∼30% and ABTS radical-scavenging activity by 20 and 28%, respectively. In general, the levels of polyphenols and TAA of cooked rice tended to further decline after storage and reheating, but to a much lesser extent when rice was prepared using microwaves. The application of in vitro digestion system disclosed that the microwave cooking resulted in the highest starch digestibility among cooking methods used. Practical applications Rice is one of the most commonly consumed staple foods worldwide. Scientific and epidemiological studies have showed that their phytochemicals exhibit antioxidant, anti-inflammatory, antihypertensive and chemopreventive effects. Therefore, their high consumption, easy availability throughout the year and use as an additive to meat and high-fat foods may make rice, especially in the form of whole grains, potentially important chemopreventive component of the diet. The appropriate cooking procedure of rice is crucial for preservation of bioactive compounds as well as digestion of starch and thus duration of the glycemic response. Preferably, this study is focused on the evaluation of the effect of cooking methods on the health-related quality of rice. The results provide practical advice that the consumption of freshly cooked rice ensures its highest nutritional quality, while rice microwaving is recommended both when cooked rice will be reheated after storage (e.g., in restaurants) and accelerated starch digestion is in favor.