Objective: to investigate the antimicrobial activity and biocompatibility of the calcium hydroxide [Ca(OH)2] + propylene glycol (PG) + aloe vera (AV) paste in comparison with other pastes used as intracanal medication. Material and Methods: there was evaluated 3 intracanal medication based on calcium hydroxide and propylene glycol, varying only the third component. In group 1, the third component was camphorated paramonochlorophenol (CPMC); in group II, chlorhexidine (CHX); and in group III, aloe vera. The antimicrobial activity was analyzed through the direct contact of the intracanal medication pastes with strains of Enterococcus faecalis; Kocuria rhizophila; Pseudomonas aeruginosa and Candida albicans. The biocompatibility was evaluated in subcutaneous tissue of rats during experimental 7, 21 and 63 days. Results: it was observed that the Group II showed the best results regarding antimicrobial activity, followed by group III and I. The Ca(OH)2 + PG + AV paste was considered biocompatible since it presented discrete fibrosis and suggestive histological characteristics of normal healing after 63 days, approaching the control group. Conclusion: the association of Ca (OH)2 + PG + AV showed antibacterial activity and adequate biocompatibility when compared with commonly pastes used as intracanal medication.