Proximate analysis and antioxidant activity of cultivated wild Panax ginseng (CWPG) were investigated to provide fundamental information of CWPG with different ages and to increase its industrial application. Proximate analyses of CWPG with different ages were performed. Extraction of CWPG with different ages was carried out using heatreflux extraction, and their extraction yield, crude saponin content, ginsenoside content, and antioxidant activity were analyzed. Moisture content decreased, but crude fat and crude protein were increased with aging. Extraction yield and crude saponin contents did not show a specific pattern while 5-year-old CWPG revealed the highest extraction yield and crude saponin content. All CWPGs showed typical ginsenoside profiles containing C-K and Rh2 ginsenosides, which are not found in ginseng. The 3-year-old CWPG showed the highest antioxidant activity including total phenolic content, total flavonoid content, and DPPH and ABTS radical scavenging activities. Moreover, 3-year-old CWPG also revealed the highest acidic polysaccharide content. Therefore, these results suggested that 3-year-old CWPG, which is the cheapest, can be used in industrial application due to its high antioxidant activity and acidic polysaccharide content with similar ginsenoside profile compared to 5- and 7-year-old CWPGs.