Tef, Eragrostis tef (Zucc.) Trotter, is a cereal crop originated and diversified in Ethiopia, where it is used to produce a range of food products. This study aimed to profile and quantify the phenolic composition and antioxidant potential of seven tef grain varieties. Soluble and bound phenolics ranged from 37 to 71 and from 226 to 376 mg of gallic acid equivalent/100 g dry basis (db), and soluble and bound flavonoid contents varied between 36 and 64 and between 113 and 258 mg of catechin equivalent/100 g db, respectively. Protocatechuic, vanillic, syringic, p‐coumaric, sinapic, ferulic, and rosmarinic acids, catechin, and naringenin were detected at least in three of the varieties studied. The dominant phenolic compounds were catechin, rosmarinic acid, and ferulic acid in the soluble extracts, whereas ferulic, rosmarinic, and p‐coumaric acids were the dominant ones in the bound extract. Gallic, caffeic, and salicylic acids were not detected in any of the varieties studied. The majority (>84%) of tef grain phenolics were found in bound form, contributing >84% of total 2,2‐diphenyl‐1‐picrylhydrazyl antioxidative capacity and >80% of total ferric reducing antioxidant power. These results clearly demonstrated the differences in phenolic profile among tef grain varieties. These results are relevant for developing healthy and nutritious tef‐based food products.