Water extract, and free-, ester- and insoluble phenolic acids were extracted from wormwoods. The extracts were then dissolved in equal amounts of an edible soybean oil, and the resulting substrates, portion of the soybean oil (control), 0.02% BHA and 0.02% BHT were stored in incubator at $45^{\circ}C{\pm}1.0^{\circ}C$ for 32days. Peroxide values (POV) and thiobarbituric acid (TBA) values of control and the substrates were determined during th9 storage period. The POV of control, BHA, BHT and six substrates which were contained water extracts 0.5%, 1% and 1.5%, and free-, ester- and insoluble phenolic acids after 24days of storage were 77, 43, 17, 38, 26, 34, 45, 28 and 16m mole/kg oil respectively, The TBA values after 32days of storage were 0.278, 0.170, 0.070, 0.200, 0.178, 0.235, 0.167, 0.136, 0.062, respectively, It was found that the antioxidant activity in water extracts was highest in water 1 (the substrates containing water extracts 1%). It was also found that antioxidant activities in the phenolic acids were decreased in the following order ; insoluble phenolic acids>ester form>free phenolic acids. The phenolic acids separated and tentatively identified by Gas chromatography were catechol, vanillin, umbelliferone, p-coumaric acid, ferulic acid caffeic acid, protocatechuic acid, p-hydroxy benzoic acid and syringic acid.