Although having functional properties, fat is known to be adversely effective in case of high consumption. High fat consumption causes health disorders such as obesity, cardiovascular diseases and high blood pressure, insulin balance disorders and cancer. For this reason, it is important to reduce fat consumption and create food formulations rich in bioactive components. In the scope of this study, CS (Chia seed) was replaced with wheat flour 10%, 20%, and 30% (w/w) and the fat amount was decreased in 25%, 50%, 75% (w/w) ratios for formulating low-fat crackers, and the antioxidative potential of the samples was evaluated. Extractable, hydrolysable, bioaccessible phenolic fractions of samples were analyzed in terms of TEACABTS, TEACCUPRAC, TEACDPPH and Total Phenolic Content (TPC) (Folin Ciocalteu’s method). CS replacement was determined to be more effective than a fat reduction on AC and TPC results of samples. By 25, 50 and 100% fat reduction of extractable, hydrolysable and bioaccessible phenolic fractions, TEACABTS values increased respectively as 5.87%, 9.33% and 12.11%. 75% fat reduced-30% CS supplemented sample was 91.0% higher than 100% fat including-30% CS supplemented sample and 143.4% higher than the control sample in terms of TEACABTS for bioaccessible phenolic fractions. The dietary fiber, protein content and fatty acid composition are thought to be effective in the potential of CS. It is proved that CS could be expressed as a convenient pseudo-cereal for functional food formulations.