Coconut testa and tender coconut water (TCW) are by-products of coconut processing industries which are rich in natural phytonutrients, if not exploited properly it may add up to environmental pollution. In the current study, phenolic concentrate (PHE) from coconut testa and tender coconut water (TCW) concentrates were examined for their effect on high fat fed C57BL/6 mice at the level of 50 & 100 mg and 500 & 1000 mg/kg body weight respectively. Results showed increasing body weight in high fat fed animals when compared to starch fed control (ND/SFD) group. Treatment with concentrates of PHE and TCW reduced their body weight dose dependently. Lipid profile like triglycerides, cholesterol and LDL levels were significantly decreased, whereas HDL levels increased, indicating its health beneficial effect. Catalase, SOD, GPx, TBARS in tissues, analysis of OGTT, serum insulin levels, advance glycation and atherogenic protection were augmented at different levels in the treated groups. In conclusion, phenolic concentrate prepared from the coconut testa and tender coconut water concentrate revealed their hypolipidemic property which can be exploited further in the development of health foods. © Association of Food Scientists & Technologists (India) 2021.