The present study attempted to characterize the phytochemical constituents of the essential oil (EO) extracted from the rhizome of Curcuma angustifolia Roxb. and to assess their antioxidant and antibacterial activity using standard techniques. The investigation of the phytochemicals showed the class of compounds such as glycosides, tannins, proteins, carbohydrates, saponins and terpenoids; however, the total content of phenols and flavonoids was 30.07±0.02mg/100g and 10.29±0.019mg/100g respectively. Antioxidant property of essential oil was evaluated using DPPH and FRPA. Percentage inhibition of the DPPH radical was recorded as the highest at 300 µg/ml (73.32%) with an IC50 of 2.539 µg/ml; and it was observed that the essential oil could also reduce the ferric ions in a concentration-dependent manner. In addition, the antibacterial activities against human pathogenic bacteria were evaluated by estimation of the zone of inhibition (DDA). The zone of inhibition varied from 10.05 ± 0.05mm to 15.5 ± 0.5mm, where, zone of inhibition of 15.5 ± 0.5mm at 100µg/ml was recorded against Bacillus cereus. Further, GC-MS analysis of EO showed the presence of 43 compounds having Epicurzerenone (37.3%) as highest active compound followed by Camphor (14.2%), Coronarin E (5.6%), Germacrone (4%), 1, 4-di-iso-propylnaphthalene (3.6%), borneol trifluoroacetate (3.9%) and N-hexadecanoic acid (2.8%). Thus, the present study demonstrated the medicinal importance of Curcuma angustifolia Roxb. from the North East Region of India, which is a very potent plant that could play an important role in phytopharmaceutical industries for development of new drugs in the coming future.