•Ten phenolic compounds have been identified for the first time in finger millet.•Catechin and epicatechin are the major extractable flavonoids in finger millet.•Ferulic acid is the major bound phenolic compound in finger millet.•Colored finger millets have higher phenolic compounds than non-colored ones. The profiles of phenolic compounds and antioxidant capacities of four finger millet varieties harvested in northern Malawi were investigated. The total phenolics, flavonoids and condensed tannins in the free fractions ranged from 114.43 to 179.19 mg ferulic acid equivalent (FAE)/100 g, 90.24 to 202.94 mg catechin equivalent (CE)/100 g and 31.76 to 83.59 mg CE/100 g, respectively. Total phenolic contents of the bound fractions ranged from 58.27 to 123.23 mg FAE/100 g. Twenty phenolic compounds were identified in the free fractions including eighteen flavonoids, with catechin and epicatechin being the predominant flavonoids. Seventeen phenolic compounds were identified in the bound fractions, with ferulic acid being the predominant one. Ten of the identified polyphenols were firstly reported in finger millet. Darker colored finger millet varieties had higher phenolic contents and antioxidant properties than the lighter colored ones. Finger millet can be used as healthy food material and natural antioxidant resource.