The effect on the antioxidant activity and Nitric Oxide activity production inhibitory activity of Taraxacum has not been known. Therefore, phenolics and flavonoid contents were investigated from the ethanol extracts of five different Taraxacum species. The results showed that, among the five Taraxacum, T. hallaisanensis contains the highest total phenolic and flavonoid contents. When the antioxidant activity was measured by DPPH, ABTS+ and reducing power activity, the free radical scavenging activity of T. hallaisanensis was also the highest among five Taraxacum species. However, measurement by CCK-8 assay in Raw264.7 cells indicated that the extracts of Taraxacum species have no effect on cell viability. Moreover, we also investigated the effect of Taraxacum species on NO scavenging activity in lipopolysaccharide (LPS)-stimulated Raw264.7 cells. The results clearly showed that Taraxacum species inhibited NO production, and the inhibitory effect of T. hallaisanensis was the strongest. The above results suggested that Taraxacum species affected the antioxidant and NO scavenging activity, and among the five species, antioxidant and NO scavenging activity assay of T. hallaisanensis was significantly higher than those of other four Taraxacum species. Therefore, T. hallaisanensis could be used as a potential drug with anti-oxidant and anti-inflammatory effect.