The biophenolic fraction was characterized in olive mill waste (OMW) obtained as a by-product from processing of Mission and Frantoio olive fruit. OMW produced from the Mission fruit contained higher total phenol content. Individual biophenols with the exception of verbascoside and a hydroxytyrosol-secoiridoid were also present at higher concentrations in the OMW produced from Mission cultivar. Antioxidant activities were measured in aqueous (DPPH) and emulsion (BCBT) systems. The Frantoio extract was more active than the Mission extract in the DPPH assay - EC(50) values were 28.3+/-1.7 ppm and 34.7+/-1.7 ppm, respectively. Activities were reversed in the BCBT, with the Mission extract (EC(50) 60.6+/-2.3 ppm) more potent than the Frantoio extract (EC(50) 79.9+/-2.0 ppm), and this may be related to the more lipophilic nature of the Mission extract. Both extracts showed broad spectrum antibacterial activity against Staphylococcus aureus, Bacillus subtilis, Escherichia coli and Pseudomonas aeruginosa; whereas individual biophenols (hydroxytyrosol, luteolin, oleuropein) showed more limited activity. Molluscicidal activity was measured against Isidorella newcombi and LD(50) values were 424 ppm and 541 ppm for Mission and Frantoio extracts, respectively. The results suggest that OMW may be utilised as a source of bioactive compounds.