Polygonum cuspidatum has been broadly utilized as a herbal medicine in Asia, but the outline of the polyphenol compounds in the plant has not been characterized well. In the present study, the major polyphenolic components were isolated from the roots of P. cuspidatum, and identified as resveratrol and its glucosides, resveratroloside and polydatin. On the other hand, chlorogenic acid was found to be one of the polyphenolic components in the leaves and stems of the plant. Next, we elucidated that resveratrol derivatives and chlorogenic acid exhibit α-glucosidase inhibitory activities, and resveratroloside exhibits the same inhibitory activity as quercetin does. Furthermore, DPPH radical scavenging activities of antioxidants including resveratrol derivatives and chlorogenic acid derivatives were examined by initial rate analyses of their reactions. Subsequently, it was revealed that resveratrol derivatives have slow-acting effects on the radical scavenging activity and that chlorogenic acid derivatives exhibit very fast-acting effects.