The nutritional values and phytochemical composition of young shoots of wild Asparagus stipularis Forssk. from Tunisia were determined in this study. The antioxidant (tested by four different in vitro assays) and antiproliferative properties (against human tumour cell lines) of aqueous and hydroalcoholic extracts of the young shoots were also investigated. The obtained results indicated that the young shoots are a potential source of valuable nutrients and dietary fiber, and their hydroalcoholic extract showed marked antioxidant and antiproliferative activities in all tested assays. The major phenolic compound, characterized by using a high-performance liquid chromatograph coupled with diode-array and mass spectrometer detectors, in both extracts was diferuloyl glycerol. Our results reinforce the interest in recovering the traditional culinary uses of this wild plant, with potential functional properties, which can be included in the modern diet as an alternative to the variety of vegetables normally used.