Asphodeline lutea (L.) Rchb. is a wild edible plant, traditionally consumed in the Mediterranean diet, but there are limited literature data about its medicinal properties. Methanol extracts of A. lutea roots from Bulgarian (ALB) and Turkish (ALT) origin were evaluated for their antioxidant activity using various in vitro models: phosphomolybdenum assay, free radical scavenging activity, metal chelating activity and ferric and cupric reducing power. Both methanolic extracts were analyzed for phenolic derivatives by HPLC–DAD. Caffeic acid was the dominant phenolic acid being present up to 2.19 ± 0.020 mg/g extract in ALB. The highest content of (+) catechin (1.54 ± 0.060 mg/g) and (−) epicatechin (3.18 ± 0.160 mg/g) was found in ALB as well as total polyphenolics (22.45 ± 0.95 mg/g GAEs/g extract). The ALT revealed the highest total flavonoid content (34.99 ± 0.39 mg REs/g extract). Free radical scavenging activity of ALB against DPPH (25.39 ± 0.36 mg TEs/g extract) and ABTS (33.99 ± 1.06 mg TEs/g) was evaluated. In addition, ALB had stronger metal chelating activity (7.31 ± 0.31 mg EDTAEs/g extract) and higher ferric (34.67 ± 0.51 mg TEs/g extract) and cupric (23.82 ± 0.36 mg TEs/g) reduction ability as compared with the ALT. Total antioxidant capacity of ALB in phosphomolybdenum test was assayed (236.80 ± 0.86 mg AEs/g extract). A. lutea roots have a significant potential in safeguarding against various induced oxidative stress.