A novel series of 1-(3-(1-(p-chlorophenyl)-5-methyl-1H-1,2,3-triazol-4-yl)-5-aryl-4,5-dihydropyrazol-1-yl)ethanone was prepared from 1-(1-(p-chlorophenyl)-5-methyl-1H-1,2,3-triazol-4-yl)-3-arylprop-2-en-1-one and hydrazine hydrate in acetic acid under microwave irradiation. The structure of propeonone and pyrazoline derivatives was elucidated by FT-IR, 1H-NMR, 13C NMR, mass spectral data and CHN analysis. The antioxidant and cytotoxic activities of newly synthesized compounds were tested by in-vitro method and compounds 7, 9 and 10 are found to be the promising anticancer agents.