Ethnobotanical study of wound healing plants in the central part of Lagos, Nigeria recorded 23 species of plants, belonging to 18 plant families. The plants are used as first aids, in the washing of sores, extraction of pus, as well as on infected wounds. Taxonomic distribution shows bark (36.7%), root (27.2%), leaves (9.1%), juice (22.5%) and rhizome (4.5%). Ethanol extracts of wound healing medicinal plants most commonly mentioned in the survey [Ageratum conyzoides Linn. (Asteraceae), Anthocleista nobilis G. Don (Loganiaceae), Cocos nucifera Linn. (Palmae), Croton lobatus Linn. (Euphorbiaceae), Entandrophragma utile (Dawe & Sprague) Sprague (Meliaceae), Nauclea latifolia Sm. (Rubiaceae), Parquetina nigrescens (Afzel.) Bullock (Asclepiadaceae), Petiveria alliacea L. (Phytolaccaceae), Treculia africana Decne (Moraceae), Uvaria chamae P. Beauv. (Annonaceae) and Vernonia amygdalina Del. (Asteraceae)] were investigated for free radical scavenging activities and also lipid peroxidation. Total phenol and flavonoid contents were determined spectrophotometrically as gallic acid and rutin equivalents respectively. Flavonoid content correlated positively with activity. Flavonoids reduce lipid peroxidation by preventing or slowing the onset of cell necrosis and also by improving vascularity. Hence, any extract that inhibits lipid peroxidation will increase the viability of collagen fibrils by increasing the strength of collagen fibres, circulation, prevent cell damage and hasten the process of wound healing by inhibition of lipid peroxidation as prognostic biomarkers.