This study was carried out to investigate the chemical composition and biological activity of banana peel extracts; the efficiency of the different solvent systems: aqueous, 80 % methanol, 80% ethanol and 80% acetone was used for extraction of phenolic, flavonoid and tannin compounds. Banana peel relative antioxidants potential by four assays DPPH·, Fe2+-chelating, Reducing power and ABTS·+ inhibitor activities was evaluated. Analysis showed that the percentage of moisture, protein, crude fat and total carbohydrates were 88.10, 13.42, 7.57, 10.44 and 68.31 g/100g DW respectively. For mineral content, potassium is the major element found in banana peel was (9.39 % of DW) followed by magnesium, calcium, sodium and phosphorus were (0.71, 0.44, 0.18 and 0.09 % of DW), respectively. Also, the content of microelement including iron, manganese, zinc and copper were 96.50, 35.01, 27.95 and 3.37 ppm, respectively. Methanolic extract (80%) had the highest content of total phenolic, flavonoid and tannin were 17.89, 21.04 and 24.21 mg /g DW respectively. Most of acetone banana peel extracts (80%) was found to be highest antioxidant and antimicrobial activity at 600 ppm against gram positive and negative bacteria, fungi and yeast. The phenolic profiles of banana peel acetone extract was identified by HPLC. The main phenolic compounds was chyrsin, qurectein and catchin. These results clearly encourage the application of banana peel as a potent natural source of antioxidant and antimicrobial sources.