The members of the Liliaceae family have been regarded as an excellent source of biologically active compounds. However, the work on antimicrobial potential and characterization of the bioactive fractions of Lilium philadelphicum flower is limited and needs to be explored. The present study reports the antimicrobial potential, anti-inflammatory and anticancer potential of the bioactive fraction extracted from the flower of L. philadelphicum (Red Lily) and characterization of these bioactive compounds. The antimicrobial activity was tested against nine different Gram-positive and Gram-negative bacterial strains. The minimum inhibitory concentration (MIC) values of methanolic extract of L. philadelphicum flower against Acinetobacter bouvetii, Achromobacter xylosoxidans, Bacillus subtilis MTCC 121, Candida albicans MTCC 183, Klebsiella pneumoniae MTCC 3384, and Salmonella typhi MTCC 537 were 25, 50, 12.5, 50, 100 and 50 μg mL-1, respectively. The phytochemical analysis of the extract reveals the presence of phenols, flavonoids, tannins, terpenoids, glycosides, coumarins, and quinones. The cytotoxicity of the partially purified compound against the HepG2 cell line in MTT assay demonstrates up to 90% cell viability with a bioactive compound concentration of 50 μg/ml. However, with the increase in bioactive compound concentration up to 1000 μg/ml results into nearly 80% cell viability, just a minor decline in cell viability suggests the importance of bioactive compounds for suitable therapeutic applications. Spectroscopic studies of the bioactive compound by UV-Visible spectroscopy, FT-Infra Red spectroscopy, Gas Chromatography-Mass Spectrometry (GCMS) as well as its phytochemical analysis suggests the presence of terpenoids moiety, responsible for the antimicrobial property of L. philadelphicum flower.