As the consumption of corn increases, the production of by-products is also increasing. In this study, functional substances and antioxidant activities of corn by-products were investigated to determine their applicability as functional materials. Total polyphenol, flavonoid contents, and ABTS antioxidant activity were the highest in leaves. The total phenolic acid content was the highest in cobs; p-coumaric and ferulic acid were the main components. Phytosterol content in leaves and stems was high at 64 and 50 days after sowing, 261.4 and 274.7 mg/100 g, respectively. β-sitosterol of the leaves and stems was the highest, 149.2 and 138.7 mg/100 g. The total phytosterol content of grains and by-products harvested 106 days after sowing was in the order of: corn silk, husk, grain, leaf, stem, and cob. Among the phytosterols, β-sitosterol was the highest, followed by stigmasterol and campesterol, and the composition was different depending on part. The total phytosterol content was the highest in husk and corn silk, but the stems and leaves, which account for 50% of the total corn biomass, also contained high phytosterol content. Therefore, corn leaves and stems are expected to be used as functional raw materials for the development of functional materials in the future.