This work is aimed to assess of antioxidant and antifungal potential of the foliose lichen species: Flavoparmelia caperata , Xanthoparmelia stenophylla and Xanthoparmelia conspersa . The antifungal activity of lichens were studied against some pathogenic fungi by disc diffusion method. The acetonitrile extracts of these lichens were obtained with Soxhlet extraction. While F. caperata exhibited maximum antifungal activity (32 mm) against the C. albicans , the minimum antifungal activity (10 mm) was obtained from X. stenophylla lichen against S. cerevisiae . In CUPRAC assay, absorbance values was in order of BHT> X. conspersa > F. caperata > X . stenophylla . As a result of the study, it was concluded that these lichen species may be a potential source for the development of new antifungal and antioxidant compounds.