The chemical characteristics, phenolic content and antioxidant activity of olive oils flavored with garlic, lemon, oregano, hot pepper, and rosemary were evaluated during 9 months of storage. At the end of the storage period, the unflavored and the garlic-flavored oils maintained their chemical parameters within the limits fixed for extra-virgin olive oils. After 9 months of storage, a noticeable decrease in phenolic content was observed in all the oils. The highest (35.0 ± 3.9 mg/kg oil) and the lowest (6.3 ± 0.4 mg/kg) phenolic contents were detected in the unflavored and garlic-flavored oils, respectively. Compounds such as 3,4-DHPEA-EDA (3,4-dihydroxyphenylethyl 4-formyl- 3-formylmethyl-4-hexenoate, the dialdehydic form of decarboxymethyl elenolic acid linked to hydroxytyrosol) and p-HPEA-EDA (dialdehydic form of the decarboxymethyl elenolic acid linked to tyrosol) were the most abundant in both unflavored and lemon-flavored oils up till 6 months of storage. At the end of the storage period, increases in 3,4-DHPEA (hydroxytyrosol) and p-HPEA (tyrosol) were measured in almost all the oils. During storage, the antioxidant activity coefficients of the phenolic extracts, calculated according to the b-carotene bleaching assay, significantly decreased and, after 9 months, were in a decreasing order: rosemary (51.3 ± 4.2), hot pepper, lemon, oregano, unflavored, and garlic (8.5 ± 0.7).