Purpose: To evaluate the phenolic content and biological activities of Lycium barbarum fruits cultivated in Turkey.Methods: Phenolic compounds in the water and methanol extracts of the fruits were determined by liquid chromatography-mass spectrometry (LC-MS/MS). 2,2-Diphenyl-1-picrylhydrazyl (DPPH) and superoxide radical scavenging activities and ferric-reducing antioxidant power (FRAP) assays were used to evaluate the antioxidant potential of the fruits. The acetylcholinesterase (AChE) inhibitory activity of the fruits was evaluated by Ellman assay.Results: LC-MS/MS results showed that all the extracts contained phenolic compounds including flavonoids, phenolic acids, anthocyanins and polyphenols. Some anthocyanins, namely, cyanidin-3-Oglucoside, cyanidin chloride, pelargonin chloride, pelargonidin chloride, and pelargonidin-3-0-glucoside were identified in the fruits for the first time. Pelargonidin-3-O-glucoside and cyanidin-3-O-glucoside were the main anthocyanins in the water extract with levels of 119.60 ± 12.04 and 1112.25 ± 125.40 mg/kg, respectively. The results indicated that the extracts possessed good radical scavenging and ferric-reducing activities.Conclusion: The results show that Lycium barbarum cultivated in Konya is a good source of the phenolic compounds, and thus may be exploited for commercial production of the antioxidants.Keywords: Lycium barbarum, Goji berries, Antioxidant activity, Acetylcholinesterase, Flavonoid