Introduction. Cashew appleis a rich source of sugars, vitamin C and polyphenols. In spiteof its nutritional value, this pseudo-fruit has been left unexploitedto a large extent in the crop-growing areas. Some reports of thechemical characteristics of cashew apple have been published. However,nothing is known about the changes in the composition of its bioactive compoundsin the course of ripening. Materials and methods. Cashewapples at three different maturity stages were examined with respectto their ascorbic acid content, phenolic compounds and antioxidantcapacity. Ascorbic acid was quantified by HPLC. Phenolic compoundswere identified and quantified by using HPLC-ESI-MS/MS by comparisonwith authentic standard compounds. The antioxidant capacity wasmeasured by TOSC assay against peroxyl radicals and peroxynitrite. Results. Amounts of identified phenolic compounds werethe highest in unripe cashew apple and decreased in the course ofripening. Myricetin 3-O-rhamnoside, quercetin 3-O-galactoside and quercetin3-O-rhamnoside turned out to be the main flavonoids in all maturitystages. The antioxidant capacity and the concentration of ascorbicacid increased in the course of ripening. The antioxidant activitywas considerably influenced by ascorbic acid, more than by the content ofphenolic compounds. Conclusion. This study provides, forthe first time, information on changes in bioactive compounds andthe antioxidant capacity in cashew apple during ripening. A dietaryor technological exploitation of ascorbic acid is useful in theripe condition. The unripe pseudo-fruits are a good source for the extractionof polyphenols with regard to possible food technological purposesor the preparation of food supplements.