Some Orthoptera species have been studied for their large amounts of phenolic compounds and bioactive potential. This work focused on Pterophylla beltrani Bolívar & Bolívar as a source of compounds with bioactive potential. Concentrated ethanolic extract of P. beltrani was evaluated for antioxidant effects, protective potential of proteins against free radicals, and antimicrobial effects and was analyzed for tentative identification of metabolites. The extract showed total phenolic compounds, flavonoids, and antioxidant capacity. The antibacterial effect was greatest in Bacillus subtilis Cohn. An antifungal assay showed no inhibition of mycelial growth. No protective effect against degradation of proteins by free radicals was observed. Tandem mass spectrometry enabled tentative identification of derivatives of fatty acids, amino acid derivatives, alkaloids, phenolic compounds, terpenoids, piranocumarins, and fatty amides in the extract. Results highlight P. beltrani as a source of metabolites with bioactive potential for future applications.