The Antarctic endophytic fungus (strain ITA1-CCMA 952) was isolated from the moss Schistidium antarctici found in Admiralty Bay, King George Island, Antarctica. Strain ITA1-CCMA 952 was assigned to the specie Mortierella alpina by phylogenetic analysis based on 18S rRNA gene sequences. This strain produces high levels of polyunsaturated fatty acids (PUFAs), including y-(gamma) linolenic acid and arachidonic acid, which when combined represents 48.3% of the total fatty acid content. Fungal extracts demonstrated strong antioxidant activity with the EC50 value of 48.7 μg mL(-1) and also a strong antibacterial activity, mainly against the following bacteria: Escherichia coli, with a MIC of 26.9 μg mL(-1) and Pseudomonas aeruginosa and Enterococcus faecalis, both with a MIC of 107 μg mL(-1). A GC-MS analysis of the chloroform fraction obtained from the crude extract revealed the presence of potential antimicrobials (Pyrrolo[1,2-a]pyrazine-1,4-dione, hexahydro-3-(2-methylpropyl) and Pyrrolo[1,2-a]pyrazine-1,4-dione, hexahydro-3-(phenylmethyl)) as the major compounds. Therefore, the M. alpina strain ITA1-CCMA 952 is a promising fungus for the biotechnological production of antibiotics, antioxidant substances and PUFAs. This study highlights the need for more research in extreme environments, such as Antarctica.