In the current study, antioxidant potential of licorice extracts was determined through different assays. For optimum recovery of bioactive components, three solvents (ethanol, methanol, and ethyl acetate) were employed at different ratios with water (25:75, 50:50, and 75:25) and supercritical fluid extracts (SFE) were obtained at varying pressures (3,500, 4,500, and 5,500 psi). Results exhibited that the extraction of antioxidant compounds from licorice increased with increasing solvent concentration. Among solvent extracts, 75% ethanolic extract showed highest total phenolic content (TPC), total flavonoids content (TF), and antioxidant activity. The supercritical CO₂ extract obtained at 5,500 psi pressure exhibited highest values for TPC, TF, and antioxidant capacity. It was evident from HPLC analysis that the highest recovery of major bioactive components (glycyrrhizin and glabridin) was obtained through supercritical CO₂ extraction at elevated pressures. PRACTICAL APPLICATIONS: Licorice is a rich source of biologically active components with history of medicinal use. The current study provides an approach to maximize the recovery of desired components from licorice that can be used in different formulations with antioxidant potential.