Most reports on fruit antioxidant capacities are based on extraction of antioxidants using polar solvents. In banana, little is known about the fate of bioactive compounds during the digestion process, particularly in the food matrix under the gastric and intestinal conditions. In the present study, an in vitro gastrointestinal digestion method was used to simulate physiological conditions of the stomach and small intestine to evaluate the actual antioxidant capacity of banana. The simulated gastrointestinal extracts showed significantly higher antioxidant properties. The total phenol content of the physiological enzymatic extract was higher by almost 150% than the methanolic extract. Similarly, the flavonoid and flavonol contents were higher in the physiological enzymatic extract by 330.6 and 141.7%, respectively as compared to methanolic extract. These differences were also noticed in the antioxidant capacity measurement parameters. From the results, it can be concluded that the conventional extracts underrate the antioxidant value of banana and that they may have much higher health significance, as an antioxidant in particular.