Edible beans are among the most important grain legumes consumed by humans. To provide new information on the antioxidant phenolics of edible beans, the antioxidant capacity, total phenolic content (TPC), and total flavonoid content (TFC) in both soluble and bound fractions of 42 edible beans from China were systematically evaluated, with main phenolic compounds identified and quantified in 10 beans possessing the highest TPC. Edible beans contained a wide range of total antioxidant capacity and TPC generally comparable with common grains, fruits, and vegetables, and their bound fractions had significant antioxidant capacity, TPC, and TFC. Red sword bean was found for the first time to show extremely high total antioxidant capacity (ferrous[II] at 235 ± 13.2 μmol/g and Trolox at 164 ± 10.5 μmol/g) and TPC (1767 ± 58.3 mg of GAE/100 g). Phenolic compounds such as catechin, ferulic acid, gallic acid, p-coumaric acid, and protocatechuic acid were widely detected in selected beans. A positive correlation was found between antioxidant capacity (ferric-reducing antioxidant power [FRAP] and Trolox equivalent antioxidant capacity [TEAC] values) and TPC, with correlation coefficient r = 0.974 (FRAP value versus TPC) and r = 0.914 (TEAC value versus TPC). Therefore, beans with high antioxidant capacity and phenolic content can be valuable sources of dietary natural antioxidants for the prevention of oxidative stress-related chronic diseases.