Phenolic compounds were extracted from hazelnut skin using 80% (v/v) aqueous acetone or methanol. The crude extracts were applied onto a Sephadex LH-20 column for two fractionations (Fr. I and Fr. II). Fr. I consisting of low-molecular-weight phenolics was eluted by ethanol, whereas Fr. II consisting of tannins was obtained using acetone/water (1:1, v/v) as the mobile phase. UV spectra of phenolic compounds present in the crude extracts and their fractions exhibited a maximum absorbance at 282 nm. The crude extracts and their fractions were examined for phenolic and condensed tannin contents as well as total antioxidant activity (TAA), antiradical activity against the 2,2-diphenyl-1-picrylhydrazyl (DPPH) radical, and reducing power. Results of these assays showed higher values when Fr. II containing tannins was tested, followed by crude extract, and Fr. I. Both 80% acetone and methanol were capable of extracting phenolics, but 80% acetone was a more effective solvent for the extraction of condensed tannins (p < 0.05). These results suggest that hazelnut skin can be considered as a value-added byproduct for use as dietary antioxidants.