The potential health benefits of native and exotic fruits have been the subject of many recent studies in the Philippines as fruits are chief sources of biologically active substances such as polyphenols, carotenoids, anthocyanins and flavonoids. Dragon fruit (Hylocereus spp.), an exotic fruit originating from South America, has become increasingly popular in the Philippines these past few years. Relatively new to the country, its full health benefits are yet to be discovered. In this study, the anti-tyrosinase and antioxidant activities of the methanolic and aqueous extracts of the flesh and peel of red and white dragon fruits were evaluated while the anti-angiogenic potential of the ethanolic and aqueous extracts of the flesh and peel of white dragon fruit were screened using the duck embryo chorioallantoic membrane (CAM) assay. The methanolic extract of the red dragon fruit peel showed potent inhibition against the diphenolase activity with the percentage of inhibition being significantly higher than that of Rutin at 20 mg/mL. Furthermore, it exhibited better antioxidant activity than ascorbic acid in the radical scavenging assay as well as the ability to chelate with ferrous ions and reduce the ferric ion. The observed activities may be attributed to its high total phenolic content and the observed presence of tannins. In CAM assay, treated duck embryo showed evident suppression of veins at increasing concentrations of ethanolic and aqueous extracts of the white dragon fruit flesh and the aqueous extract of the white dragon fruit peel (250 ppm to 2000 ppm), with almost no vascularization at 2000 ppm; the trends of vascularization were almost comparable to that of quercetin, a known anti-angiogenic compound. These results contribute to the increasing repertoire of potential health benefits of dragon fruit.