Summary The variability of the physicochemical composition, carotenoid and polyphenol contents and hydrophilic antioxidant capacity of fresh peach palm (Bactris gasipaes) fruit was studied with a view to its exploitation as a potential source of bioactive compounds. The variability present in five batches of peach palm fruit obtained from two regions in Costa Rica: Tucurrique (T) and Pérez Zeledón (PZ), was studied. Significant differences were found for fruit weight, length and width amongst the batches studied. The moisture, fat and protein contents of the Tucurrique fruit were significantly lower than those from Pérez Zeledón. No significant difference in starch content was found between any of the batches of peach palm fruit studied. In terms of antioxidant compounds, the total carotenoid content ranged between 109 and 202 µg β-carotene equivalents/g dry weight (dw), while the total polyphenol content varied from 54 to 106 mg gallic acid equivalents (GAE) /100 g (dw). Both these components presented variability amongst the five batches. The antioxidant capacity was determined by the ORAC method and only the PZ 3 sample presented significant differences from the other four batches. The average hydrophilic antioxidant capacity was 37 ± 7 µmol of Trolox equivalents (TE)/g (dw). Overall, the peach palm fruit showed potential to be used in the development of functional foods since the variability of the raw peach-palm fruit, determined by applying a principal component analysis, showed that some characteristics of this fruit were not affected by harvest time and showed no differences between the batches from the two areas.