Polysaccharides were extracted from Hengshan Astragalus and Lycium barbarum by ultrasonic method, and then antioxidative activities of Hengshan Astragalus polysaccharides, L. barbarum polysaccharides and the compound polysaccharides of them were accessed in this study. The results showed that: (1)The total antioxidant capacity ［TAOC =(0.67±0.12) U/mg］ and superoxide anion radical scavenging capacity (EC₅₀ = 2.34 mg/mL) of Hengshan Astragalus polysaccharides were both higher than those of L. barbarum polysaccharides ［TAOC =(0.52±0.07) U/mg, EC₅₀ = 4.28 mg/mL］, while hydroxyl radical scavenging capacity (EC₅₀ = 1.36 mg/mL) was lower than that of L. barbarum polysaccharides (EC₅₀ = 0.98 mg/mL). (2) TAOC, hydroxyl radical scavenging capacity and superoxide anion radical scavenging capacity of the compound polysaccharides were significantly higher than those of any single polysaccharide. (3) Both any single polysaccharide and compound polysaccharides exhibited a dosedependent effect. In conclusion, Hengshan Astragalus polysaccharides show remarkably high antioxidative activities, and are natural antioxidants with development potential. Besides, the compound polysaccharides of polysaccharides from Hengshan Astragalus and L. barbarum (1∶1) enhance the antioxidative effects. Thus, this study may offer reference for further exploration of Hengshan Astragalus polysaccharides and natural antioxidants.