The present study was undertaken to determine the concentrations of twelve elements and in vitro antioxidant activity in two formulations of Shatavaryadi churna and their ingredients. Concentrations of various elements were determined by inductively coupled plasma-optical emission spectrometry (ICPOES). Antioxidant potential of the Shatavaryadi churna was studied using different in vitro free radical model i.e. 1, 1-Diphenyl-2-picryl-hydrazyl (DPPH) Marketed Shatavaryadi churna formulation has shows presence of cadmium, whereas the levels of Cr and Pb are distinctly lower in marketed formulation. The high levels of Ca, Mg, and Fe are present in all the ingredients and formulations of Shatavaryadi churna. Methanolic extract of Mucuna pruriens Linn. seed shows significantly higher antioxidant potential with IC50 value 7.713μg/ml, as determined by DPPH radical scavenging activity and methanolic extract of Chlorophytum tuberosum Baker bulb shows least antioxidant potential amongst all ingredients and formulations of Shatavaryadi Churna. This study indicates the presence of essential and potentially toxic elements are within the limit and formulation can be used on regular basis without any harmful effect. The data obtained in DPPH radical scavenging activity suggest a possible use of Shatavaryadi churna as a natural antioxidant agent.