We studied the ability of an aqueous extract from yerba mate and a dry extract obtained on the basis of this aqueous extract to remove Fe(II) ions from an aqueous medium. Aqueous extracts from mate dose-dependently reduced the concentration of free Fe(II) ions assayed by the reaction with 1,10-phenanthroline. This can be attributed to polyphenolic compounds with iron-chelating properties present in aqueous extracts from mate, namely quercetin, rutin, caffeic and chlorogenic acids. These substances effectively removed Fe(II) ions from the medium (the initial concentration of these ions was 15 microM) in the concentration range of 20-30 microM. Binding of Fe(II) ions by aqueous mate extracts (due to the formation of chelate complexes with the participation of polyphenolic compounds) modified their absorption spectra in the visible region. Binding of Fe(II) ions can be a mechanism of the antioxidant action of yerba mate. Key Words: yerba mate; Ilex paraguariensis; iron ions; polyphenolic compounds; antioxidants