Schiff bases of 1,2,4-triazoles have been found to possess extensive pharmacological activities and 4-thiazolidinone is considered as a biologically important active scaffold that possesses almost all types of biological activities. A rapid and efficient synthesis of 4-thiazolidinone fused with 1,2,4-triazole has been developed. In this view we have synthesized different new compounds in which 4-oxo-thiazolidines coupled with 1,2,4-triazole ring. 4-amino-1,2,4-triazole on condensation with different aryl aldehyde produced different Schiff bases (comp. 2) which on cycloaddition with mercaptoacetic acid produced 4-(2-aryl-4-oxo-thiazolidinyl)-4H-1,2,4-triazole (compound 3). All synthesized compounds were characterized by their spectral studies FTIR, (HNMR)-H-1, (CNMR)-C-13 and elemental analysis. These all new synthesized 1,2,4-triazole derivatives evaluated for their antioxidant activities. Some of the compounds have shown better antioxidant activity than ascorbic acid.