An antioxidant, antibacterial, and biocompatible biomaterial is essential to repair skin wounds effectively. Here, we have employed two natural biopolymers, isabgol (ISAB) and konjac glucomannan (KGM), to prepare microporous scaffolds by freezing and lyophilization. The scaffolds are loaded with thymol (THY) to impart potent antioxidant and antibacterial activities. The physicochemical properties of the ISAB + KGM + THY scaffold, like porosity (41.8 ± 2.4%), swelling, and biodegradation, were optimal for tissue regeneration application. Compared to the control, ISAB + KGM + THY scaffolds promote attachment, migration, and proliferation of L929 fibroblasts. The antioxidant activity of the ISAB + KGM + THY scaffold was significantly improved after loading THY. This would protect the tissues from oxidative damage. The antibacterial activity of the ISAB + KGM + THY scaffold was significantly higher than that of the control, which would help prevent bacterial infection. The vascularization ability of the ISAB + KGM scaffold was not altered by incorporating THY in the ISAB + KGM scaffold. Therefore, a strong antioxidant, antibacterial, and biocompatible nature of the ISAB + KGM + THY scaffold could be useful for various biomedical applications.