This study quantified the fatty acids and evaluated the proximate composition, antioxidant activity (using the Quencher procedure), and total phenolic compound concentrations in Brazilian rice cultivars. The cultivars studied showed high amounts of unsaturated fatty acids, such as linoleic and oleic acid. The ratios of polyunsaturated and saturated fatty acids obtained were high. Regarding the antioxidant activity, the best results were found using the ABTS method and the worst in the DPPH assay. The results of the DPPH and FRAP assays showed the highest correlation. The antioxidant capacity results obtained were also much higher than those reported for other varieties worldwide. Therefore, the Quencher procedure is highly suitable for application in cereals such as rice, especially when combined with the ABTS radical capture method.