Changes in the content of bioactive components, oxidative stability, and radical scavenging capacity of pine nut oils extracted from kernels roasted for different times (0–60 min) at 150°C were determined. Oil extracted from kernels roasted for 30 min demonstrated the highest oxidative stability. The browning index which indicates extent of Maillard reaction significantly (p<0.05) increased with roasting. Compared to samples from unroasted kernels, roasting was found to cause an increase in total phenolics and a reduction in the level of total tocopherols. Total carotenoids and total chlorophylls were also reduced by roasting and almost completely diminished in heaver roasting conditions. The highest radical scavenging capacity was detected in oil sample from kernels roasted for 30 min. The improvement of oxidative stability and antioxidant capacity is possibly resulted from the combined action of the neo-formed Maillard reaction products, increased total phenolics, and other remaining bioactive components.