The effect of roasting on the antioxidant status and phenolic profiles of seven commercial Turkish hazelnut varieties (namely, Çakıldak, Foşa, Karafındık, Mincane, Palaz, Sivri, and Tombul) was assessed. Samples were examined for their total phenolics, oxygen radical absorbance capacity (ORAC) values, condensed tannins, and phenolic acids (free and bound forms). Significant losses (p < 0.05) in total phenolics (~66.3%), ORAC values (~41.6%), condensed tannins (~75.2), and phenolic acids (~42.7) were noted when the hazelnuts were roasted. Some variations both between and within natural and roasted hazelnuts were observed (p < 0.05). Phenolic acids were mainly found in the bound form. Gallic, protocatechuic, p-coumaric, and ferulic + sinapic acids were present in all hazelnut varieties, albeit to different extents, and the first two were dominant. Mincane, in roasted form, had the highest total phenolics, ORAC values, condensed tannins, and phenolic acids. This was due to the presence of some skin in roasted Mincane. No skin was left in all other varieties upon roasting. The present work suggests that roasting results in a significant loss in the antioxidant status and phenolic profiles because of the removal of the skin, which is a rich source of phenolics. It is highly recommended to consume natural hazelnut instead of the roasted counterpart to take advantage of all of the functional benefits of this nut.