One aspect of the invention relates to lignin derivatives having an aliphatic hydroxyl content of 2.35 mmol/g lignin or less, and the preparation method thereof. The lignin derivatives have a desired antioxidant activity characterized by the normalized radical scavenging index (RSI). Another aspect of the invention relates to compositions comprising the lignin derivative. Another aspect of the invention relates to a use of the lignin derivatives comprising incorporating the lignin derivatives into polymer compositions.