Pili (Canarium ovatum Engl.), an indigenous tree found in the Philippines, is highly regarded for its fruit due to its high economic value. During processing, the pulp is often discarded as waste but contains considerable amounts of oil and bioactive minor lipid components. The present study explored the antioxidant and antibacterial properties of saponified diethyl ether extract of pili pulp oil and relate this activity to the nature of compounds present in the extract thru GCMS. The extract indicated the elution of 18 major compounds which are mostly cyclic triterpenic (α- and β-amyrin, lupenone β-amyrone) and phytosterol (β-sitosterol, brassicasterol, stigmasterol) class of compounds. Characterization of the bioactivity of the extract showed high antioxidant activities measured by DPPH radical scavenging and lipid peroxidation inhibition activities that were comparable with that of α-tocopherol. Moreover, an observed bacteriocidal activity was demonstrated by the extract against E. coli and S. typhi with MIC values of 40 and 35 µg/mL, respectively. The observed bioactivity of the pili pulp oil extract can be attributed to these compounds which has high potential for the development and utilization in the food sector.