Terpenes are one of the most abundant groups of natural products that occur mostly in plants, being identified more than 30,000 different compounds. Chemically, terpene group is one of the most diverse in structure, sharing isoprene units as a common structural motif. The number of isoprene units that defined each terpene compound classifies them into several groups including hemiterpenes, monoterpenes, sesquiterpenes, diterpenes, sesterpenes, triterpenes, tetraterpenes and politerpenes. Terpenes, as a natural product group, have sparked a great interest in research because of their relevant and broad spectrum of health-promoting effects such as anti-inflammatory, antimicrobial, antitumor and antioxidant, among others. Nowadays, new findings in pharmacological area are in constant growing. Since oxidative stress has been involved in the pathophysiological development of approximately one hundred of different diseases including cancer, autoimmune diseases, heart attack and neurodegenerative diseases, there have been numerous attempts to cope with this redox imbalance. Exogenous compounds with antioxidant capacity provide a protective effect against free radical overproduction and its consequence cellular damage, being this one the most promising therapeutic strategy. Over the last recent years, there is an increasing interest in the search of antioxidant compounds among terpenes, existing emerging number of reports focused on this issue. This chapter will cover the chemistry, the natural occurrence and the most recent findings in antioxidant activity of terpenes.