This study determined the total phenolic and flavonoid contents, ascorbic acid and phenolic composition and evaluated antioxidant properties and metal chelating activity of five peach cultivars, separately for pulp and peel. Identification and quantification of ascorbic acid and phenolic compounds were performed using HPLC method. The antioxidant and metal chelating activities are evaluated by means of several in vitro methods, such as the β-carotene/linoleate model system, radical scavenging, reducing power, and iron and copper ion chelation. The results showed that the peach peels have the highest antioxidant capacities, reflecting their highest content of total phenolics, flavonoids, ascorbic acid and phenolic compounds. In addition, the predominant phenolic compounds in peaches was found to be chlorogenic acid, followed by neo-chlorogenic acid, (+)-catechin, quercetin-3-rutinoside and protocatechuic acid. The results indicated that peach peels are good sources of bioactive and antioxidant compounds, and can be explored for their health promoting values in food products. •Five representative peaches from China were analyzed separately for peel and pulp.•Peel contained higher contents of TPs, TFs, ascorbic acid and phenolics than pulp.•Peel presented higher antioxidant capacity and metal chelating capacity than pulp.•Antioxidant and metal chelating properties were correlated both to TPs, TFs and ascorbic acid.