Solidago virgaurea L., or European goldenrod, has a long tradition in folk medicine due to the wide range of its biological activity. This paper aimed to investigate the antimicrobial and antioxidative potential of S. virgaurea essential oil and hydrolates obtained by traditional and novel extraction techniques. For that purpose, hydrodistillation, microwave-assisted hydrodistillation and solvent-free extraction were performed. Analysis of the composition of essential oils indicated the presence of 59 different compounds with cyclocolorenone, germacrene D and spathulenol being the dominant in all essential oil samples. Antimicrobial activity was detected in all the analyzed samples, with higher effect on Gram-positive microorganisms compared to Gram-negative. Regarding the type of performed extraction process, the introduction of microwaves induced higher antimicrobial and antioxidative potential in both essential oils and hydrolates. Hydrolates obtained in microwave-assisted processes had pronounced antioxidative activity, which creates a good basis for further investigation of this side product's potential use in the food, cosmetic and pharmaceutical industries.