This study investigates antioxidative activity and bioactive compounds of ungerminated brown rice (UBR) and germinated brown rice (GBR). We used two rice cultivars (Oryza sativa L.), Taiwan Japonica 9 (TJ-9) and Taichung Indica 10 (TCI-10), as the materials in our experiments. The conditions for inducing germination are soaking time in water 24, 48, or 72 h; temperature 26 or 36°C; incubation in light or darkness; and open or closed vessels, in which the antioxidative activities and bioactive compounds of GBR were determined. We found that, in order to maximize antioxidative activity and bioactive compounds, germination should be under higher temperature (36°C), long soaking time (72 h), darkness, and closed vessel. GBR contains much higher levels of antioxidative activity and bioactive compounds than ungerminated brown rice (UBR). We found a strong correlation between antioxidative activities (DPPH radical scavenging ability, reducing power, and Trolox equivalent antioxidant capacity) and bioactive compounds (γ-oryzanols, tocopherol, and tocotrienol). Higher temperature (36°C) is also conducive to the production of GABA in GBR. These results are considered very useful research references for the development of future functional foods and additives.