The fruit aril of Myristica fragrans, commonly known as “mace”, is a popular spice in worldwide. Chromatographic separation of the combined ethyl acetate (EtOAc) and the methanol (MeOH) extracts of the aril of Myristica fragrans furnished malabaricone C (1), 3-(3-methyl-5-pentyl-2-furanyl)-2(E)-propenoic acid (2), licarin A (3), maceneolignan B (4) and elemicin (5). Compounds 1–5 were screened for acetylcholinesterase (AChE), and α-glucosidase enzyme inhibitory activities and DPPH radical scavenging activity. Compound 1 showed the highest AChE inhibitory activity (IC50 2.06 ± 0.04 μg/mL) and antioxidant activity (IC50 6.56 ± 0.02 μg/mL) while compound 2 displayed the most potent α-glucosidase inhibitory activity (IC50 50.91 ± 0.01 μg/mL). This is the first report of α-glucosidase inhibitory activity of 2. Results indicate that the aril of M. fragrans showed good anticholinesterase and α-glucosidase inhibitory activities and antioxidant effect in-vitro that have a potential to be used as the treatment of Alzheimer's disease.