The antioxidant properties of methanolic extracts from extract of parental and modified Monascus sp were studied and evaluated. The fungus was inoculated into different submerged media and the produced red pigment was separated by filtration and methanol extraction from the filtrate. The antioxidant or prooxidant properties of ethanolic extract was evaluated by measuring the quenching ratio of chemiluminescence intensity. The results obtained showed a quenching ration of 87.75% for parental strain, growth 96 h in culture media with 50% maltose. The mutant strain reveals less antioxidant properties, the value of quenching ratio being 4.91%. If the growth time increased, the extract showed a prooxidant activity. At the same time the extract of mutant strain grown 96 H in the culture media containing meat extract reveals excellent antioxidant property, quantified by quenching ratio of 93.36%. When the mutant strain is grown 96 H in a culture media, which contain 30% dextrose, the methanolic extract presents an antioxidant effect with quenching ratio of 98.55%.