Legumes and particularly beans are a key food of Mediterranean diet representing an important source of proteins, fiber, some minerals and vitamins and bioactive compounds. We evaluated the antioxidant and anti-mutagenic effects of a new fermented powder of a selected lectin-free and phaseolamin-enriched variety of common bean (Phaseolus vulgaris L.), named Lady Joy. Lady Joy lysate (Lys LJ) was studied in human erythrocytes and in Saccharomyces cerevisiae yeast cells. The antioxidant and anti-hemolytic properties of Lys LJ, studied in an ex vivo erythrocytes system using the cellular antioxidant assay (CAA-RBC) and the hemolysis test, evidenced a dose-dependent antioxidant activity as well as a significant hemolysis inhibition. Besides, results evidenced that Lys LJ treatment significantly decreased the intracellular ROS concentration and mutagenesis induced by hydrogen peroxide in S. cerevisiae D7 strain. In conclusion, Lys LJ showed both an antimutagenic effect in yeast and a strong scavenging activity in yeast and human cells.