Tea beverage is prepared by pouring boiling water over processed tea leaves. Tea is valued for its taste, aroma, health benefits, and form part of some cultural practices. Through the ages, tea consumption was associated with beneficial effects on human health. Most of the health-promoting effects of tea are attributed to its polyphenolic compounds and their antioxidant activity. The phenolic profile is strictly related to the processing steps performed during production of different tea types as well as home preparation practices. This review compiles the existing knowledge on the impact of processing and storage on tea antioxidant capacity.