Drying is an important process in the preservation of antioxidants in medicinal plants. In this study, leaves of Phyla nodiflora, or commonly known as frog fruit, were dried using convective drying (CD) at 40, 50, and 60 °C; vacuum-microwave drying (VMD) at 6, 9, and 12 W/g; and convective pre-drying followed by vacuum-microwave finish drying (CPD–VMFD) at 50 °C and 9 W/g. Drying kinetics of P. nodiflora leaves was modelled, and the influences of drying methods on the antioxidant activity, total phenolic content, volatile and phytosterol contents, energy consumption, water activity, and color properties were determined. Results showed that drying kinetics was best described by modified Page model. VMD achieved highest drying rate, whereas VMFD considerably reduced the drying time of CD from 240 min to 105 min. CPD–VMFD was the best option to dry P. nodiflora in terms of retaining volatiles and phytosterols, with lower energy consumption than CD. Meanwhile, VMD at 6 W/g produced samples with the highest antioxidant activity with 2,2′-Azinobis (3-ethylbenzthiazoline-6-sulfonic acid) (ABTS) and ferric reducing antioxidant power (FRAP) value of 11.00 and 15.99 µM Trolox/100 g dw, respectively.