Beer is one of the most consumed drinks around the world, containing a variety of compounds that offer both appreciated sensorial characteristics and health advantages. Important healthy compounds in beer are those with antioxidant properties that attenuate the content of free radicals produced as by-products in the human metabolism, exerting an appreciable effect against cancers or cardiovascular diseases. This work details a study of antioxidant compounds present in beer, focusing on the two main groups: phenols (including polyphenolic forms) and melanoidins, formed specifically during brewing as Maillard products. The fundaments of the most important methods to evaluate beer antioxidant activity, the main antioxidant compounds present in beer—especially those with healthy properties—and the new trends to increase beer antioxidant activity are also discussed.