Seed coats and cotyledons from 25 Brazilian and 3 Peruvian bean cultivars were investigated in relation to their phenolic profiles and antioxidant capacity. Condensed tannins, anthocyanins, and flavonols such as kaempferol and quercetin glycosides were mostly found in seed coats. Cotyledons were rich in phenolic acids, such as ferulic, sinapic, chlorogenic, and other hydroxycinnamic acids. In general, the seed coat color pattern and the type of cultivar showed an important influence on the variability of phenolic profiles and levels, respectively. Total phenolics and antioxidant capacity assessed by the DPPH method were higher in seed coats than in cotyledons. The antioxidant capacity had a significant correlation with condensed tannins for all samples and with total anthocyanins in black and red seed coats, whereas in cotyledons, it was more related to the total phenolic content.