We investigated the quality characteristics and the antioxidant efficacy of roasted maize tea according to different moisture contents (9% to 14%) using the puffing system (PS) and the roasting system (RS). Compared with the RS, the PS caused higher turbidity (0.017 vs. 0.003 in PS-14% vs. RS-14%), brown color intensity (0.170 vs. 0.059 in PS-14% vs. RS-14%), a-values (0.20 vs. -0.44 in PS-14% vs. RS-14%), b-values (7.90 vs. 5.57 in PS-14% vs. RS-14%), and a lower L-value (19.67 vs. 21.03 in PS-14% vs. RS-14%). Total polyphenol and flavonoid contents of roasted maize tea were increased along with the moisture content and they were higher with the PS (polyphenol; 5.95 mg GAE/g, flavonoids; 1.27 CE/g in PS-14%) than with the RS (polyphenol; 5.39 mg GAE/g, flavonoids; 1.12 mg CE/g in RS-14%). The DPPH and ABTS radical scavenging effects of roasted maize tea were also increased along with the moisture content, and the scavenging efficacy was significantly higher with the PS (DPPH; 160 mg TE/100g, ABTS; 507 mg TE/100g in PS-14%) compared with the RS (DPPH; 120 mg TE/100g, ABTS; 362 mg TE/100g in RS-14%). The polyphenol levels were significantly correlated with turbidity, brown color intensity, and L, a, and b-values of the roasted maize tea. In addition, an increase of the total polyphenol content in roasted maize tea induced antioxidant activities. As a result, an increase in polyphenols during the roasting process induced antioxidant activities which could prevent damage from free radicals.