Phytochemical analysis, in vitro antioxidant activity and in vitro inflammatory activity of leaf extract of Boswellia serrata were studied. The methanolic leaf extract (methanolic) was tested for the presence of phytochemicals. In vitro antioxidant activity of extract was evaluated by using DPPH free radical (1, 1-diphenyl-2-picryl-hydrazyl) scavenging assay, nitric oxide assay and reducing power methods and anti inflammatory activity was evaluated by HRBC method. Phytochemical screening reveals the presence of saponins, tannins, anthraquinones, terpenoids, and flavonoids. The extract of Boswellia serrata had shown good DPPH (1, 1-diphenyl-2-picryl-hydrazyl) radical scavenging activity. Ascorbic acid was used as standard antioxidant and positive control. The DPPH radical scavenging activity of the extract was increased with the increasing concentration, the reducing power of extract was carried out with ascorbic acid as a standard reducing agent. The methanolic extract of Boswellia serrata exhibited higher scavenging and reducing power and anti-inflammatory activity. All the analysis was made with the use of UV-VIS Spectrophotometer (Hitachi U2000, India). These results were an indication of antioxidant potential of the Boswellia serrata leaf extract and may be responsible for some of the therapeutic uses.