The volatile composition of Origanum dubium in two different maturation stages has been studied. The essential oils were obtained by hydrodistillation in a modified Clevenger-type apparatus, and their analyses were performed by GC and GC-MS. Identification of the components was made by comparison of mass spectra and retention indices with literature records and by co-chromatography with authentic compounds. Carvacrol was shown to be the main constituent. The essential oils were evaluated for antimicrobial activity and proved to be active against all tested microorganisms. Furthermore, their potential antioxidant activity was investigated and found to be significant in scavenging O2-. The samples were further evaluated for inhibition of soybean lipoxygenase LOX and showed high inhibitory activity.