The alkali-insoluble (1 -> 3)-beta-D-glucan (PJ) was extracted from yeast cell wall by acid-base method. The sulfated glucan (S-PJ), carboxymethylated glucan (CM-PJ), phosphorylated glucan (P-PJ), carboxymethylated-phosphorylated glucan (CP-PJ), carboxymethylated-sulfated glucan (CS-PJ), and sulfated-phosphorylated glucan (SP-PJ) were prepared and characterized, respectively. The reduction ability, hydroxyl radical/superoxide anion scavenging activities, and anti-lipid peroxidation effect of above-mentioned derivatives were assayed. It indicated that S-PJ had the significant reduction capacity, P-PJ had the obvious hydroxyl radical/superoxide anion scavenging activities and anti-lipid peroxidation effect. (C) 2017 Elsevier B.V. All rights reserved.