High pressure extraction (HPE) and ultrasonic extraction (UE) has exhibited great potential for extracting bioactive compounds from plant tissues. Experiments were conducted to comparatively investigate the effects of 500 MPa HPE, 40 kHz UE and convention extraction (CE) on extraction yield, total phenolic content and antioxidant activity from longan fruit pericarp. The antioxidant activities of these extracts were then analyzed employing various antioxidant model systems including 1,1-diphenyl-2-picrylhydrazyl (DPPH) radical scavenging activity, reducing power, total antioxidant capacity, superoxide anion radical scavenging activity and inhibitory ability against lipid peroxidation. In addition, three phenolic compounds, namely gallic acid, corilagin and ellagic acid, were identified and quantified using the high-performance liquid chromatography method. Compared with CE and UE samples, HPE sample exhibited higher extraction efficiency in terms of extraction yield, phenolic content and antioxidant activity.