The present study describes in vitro antidiabetic activity, antioxidant capacity and phytochemical analyses of essential oil from flower of Rhaponticoides iconiensis (Hub.-Mor.) M.V.Agab. & Greuter. In this study, the antidiabetic activity of essential oil was carried out by α-amylase and α-glucosidase enzyme inhibition methods, the antioxidant activity was investigated with DPPH●, ABTS●+ and FRAP tests and the phytochemical composition analysis was carried out by GC/MS and GC-FID. According to the results, the highest α-amylase and ABTS+● activity even from positive control were found in essential oil (IC50=154.33±3.88 µg/mL and at a concentration of 0.25 mg/mL equivalent to 0.607±0.95 µM Trolox, respectively). Moreover, the highest antioxidant activity on FRAP (at a concentration of 1 mg/mL equivalent to 508.50±1.057 mmol Fe2+) and moderate effect on DPPH● (33.10%) tests were observed. Besides that, the results of GC/MS analyses of essential oil revealed the presence of 1-undecene, γ-eudesmol and β-caryophyllene as a major compounds. In conclusion, the essential oil from this species has potential antidiabetic and antioxidant activity and these activities may be investigated in detail in the future.