In the present study N-(2-oxosubstitutedindolin-3-ylidine)-2-phenylacetohydrazides (IV a-h) have been synthesized in good yields and characterized by IR, PMR and mass spectral analyses. Compounds were evaluated for their preliminary in vitro cytotoxic activity against HeLa cancer cell lines by standard MTT assay and also were screened for antioxidant activity by DPPH method. Our results shown that two of the analogues IVf and IVc  are potent antioxidant agents and IVb and IVg are potent cytotoxic agents.