The in vitro antioxidant activity of lotus germ oil extracted by supercritical fluid extraction (SFE) has been investigated. The distinctly high total phenolic compounds content and tocopherol content in lotus germ oil composition were found to be 9.06 ± 0.11% and 485.1 ± 50 mg/100 g, respectively. The lotus germ oil exhibited a dose-dependent inhibitory effect on the hydroxyl free radical and superoxide anion free radical. However, the scavenging effects on the superoxide anion free radical were deceased when the extract concentration was greater than 70 mg/mL. Lotus germ oil showed substantial antioxidant activity in the mice liver and kidney tissues homogenates in a dose-dependent manner. The auto-haemolysis of mice red blood cells was also blocked by lotus germ oil in a dose-dependent manner. Lotus germ oil showed a higher antioxidant activity in the lard system. The high content of phenolic compounds and tocopherol in the lotus germ oil could partially account for the antioxidant activity. These results suggest the lotus germ oil can be used as healthcare oil to develop.