Increase in the average life span and interest in correlation between food and human health have led to researches to find and utilise the functional materials in rice. Octacosanol in rice grain is well known for its potential benefit. This study was conducted to evaluate the Korean rice (Oryza sativa L.) genotypes and landraces for octacosanol contents and antioxidant activity. Octacosanol contents in 223 cultivars of Korean rice ranged from 0.78 to 6.06 mg 100 g−1. Thirteen genotypes and landraces had high contents of octacosanol (4 mg 100 g−1). The antioxidant activity in Korean rice ranged from 12 to 96%. Among the tested genotypes and landraces, red-coloured rice accessions had more than 90% antioxidant activity. Genotypes with high level of octacosanol and antioxidant activity may be useful for rice breeders to develop functional varieties and food processing as nutraceutical materials.