Antioxidant activity of polysaccharide fractions isolated from Lycium barbarum Linnaeus was evaluated. Polysaccharides were extracted with boiling water, followed by precipitating with ethanol, protein hydrolysis, dialysis, and fractionation with a DEAE-Sepharose CL-6B column. A total of 4 fractions, including 1 neutral polysaccharide (LBPN) and 3 acidic polysaccharides were obtained, and compared with crude polysaccharide (CP), crude extract of polysaccharide (CE), deproteinated polysaccharide (DP), and deproteinated and dialyzed polysaccharide (DDP) for antioxidative activity. With the exception of CE and DDP, most polysaccharides were effective in scavenging DPPH and ABTS(.)+ free radicals, superoxide anion and hydroxyl radical at 1000 microg/mL.