The purpose of this study was to improve the quality of Korean traditional sauce products by producing short-term green gochujang with cheongyang pepper powder. To determine its antioxidant compounds and activities, we examined vitamin C, capsaicinoid, total phenolic, and total flavonoid contents, as well as electron-donating, SOD-like, ferrous ion-chelating, and nitrite-scavenging activities. Vitamin C content of short-term green gochujang was higher in CON-M than in the sample, whereas capsaicinoid content increased as the amount of cheongyang pepper powder increased. Total phenolic content, total flavonoid content, electron-donating activity, and nitrite-scavenging activity were higher in the sample than in CON-M, and the contents increased as the amount of meju powder increased. Green gochujang containing the highest amount of cheongyang pepper powder showed the highest SOD-like, and ferrous-ion chelating activities as well as superior nutrient contents, compared to red gochujang.