Zein is the major storage protein of maize and was identified initially on the basis of solubility in aqueous alcohol solution. It is comprised of 45-50% grain portion and has a wide range of application as a functional ingredient in the food industry. In the current study, five different maize varieties were analyzed and compared for the physicochemical, mineral and functional characteristics. Zein protein was extracted at different concentrations of ethanol and was further characterized for its antioxidant and functional properties. Significant variations in the characteristics were observed in different varieties related to their mineral and chemical composition. Likewise, antioxidant properties of zein extracted from Agaiti-2002 variety were 32.61% and minimum value (30%) was observed in the Pearl variety. Zein protein has the potential to be used as encapsulating material for controlled release of different bioactive compounds.