Development of cashew apple wine as a value added product with a range of different sweetening agents were studied. The health benefits were evaluated in terms of its antioxidant properties and compared with the juice. The various combinations were S-15 – brix of 150brix by adding sugar , SJ-15- brix of 150brix by adding sugarcane jaggery, PJ-15- brix of 150brix by adding palm jiggery, H-15- brix of 150brix by adding honey, UC-15- Unclarified juice of brix 15,S-24- brix of 240brix by adding sugar, SJ-24- brix of 240brix by adding sugarcane jiggery, PJ-24 – brix of 240brix by adding palm jiggery, H-24- brix of 240brix by adding honey, UC-24-unclarified juice of brix 24, S-45- brix of 450brix by adding sugar, SJ-45- brix of 450brix by adding sugarcane jiggery, PJ-45- brix of 450brix by adding palm jiggery, H-45- brix of 450brix by adding honey, UC-45- unclarified juice of brix 45, CWS – unclarified without sugar. Antioxidant potential of cashew apple juice and methanolic extracts were evaluated in terms of total phenolic content, DPPH radical scavenging activity, ABTS radical cation scavenging activity and total reducing power. Though, TPC of the whole fruit (2868mg/100ml) was higher than that of juice (179mg/100ml), the latter showed better antioxidant activity (DPPH IC50, juice = 133.61µg/ml, extract =208.56µg/ml; ABTS IC50 juice = 9.8 µg/ml, extract = 92.9 µg/ml). TPC of wine samples ranged from 118.65 (H-45) to 279.08 µg/ml (SJ-45). The DPPH studies indicated improvement in antioxidant activity of wine as compared with juice. The IC50 values were in between 8.4 (H-45) and 4.9 µg/ml (SJ-45). Since there is inverse relationship between IC50 and antioxidant activity, SJ-45 has higher activity than other samples. Therefore SJ-45 has high TPC as well as DPPH radical scavenging activity. Further studies are required to develop a standardized product.