Phytosynthesis of gold nanoparticles (AuNPs) has achieved an indispensable significance due to the diverse roles played by biomolecules in directing the physiochemical characteristics of biosynthesized nanoparticles. Therefore, the precise identification of key bioactive compounds involved in producing AuNPs is vital to control their tunable characteristics for potential applications. Herein, qualitative and quantitative determination of key biocompounds contributing to the formation of AuNPs using aqueous Elaeis guineensis leaves extract is reported. Moreover, roles of phenolic compounds and flavonoids in reduction of Au3+ and stabilization of AuNPs have been elucidated by establishing a reaction mechanism. Fourier-transform infrared spectroscopy (FTIR) showed shifting of O�H stretching vibrations toward longer wavenumbers and C�O toward shorter wavenumbers due to involvement of polyphenolic compounds in biosynthesis and oxidation of polyphenolic into carboxylic compounds, respectively, which cape nanoparticles to inhibit the aggregation. Congruently, pyrolysis�gas chromatography�mass spectrometry revealed the major contribution of polyphenolic compounds in the synthesis of AuNPs, which was further endorsed by reduction of total phenolic and total flavonoids contents from 48.08 ± 1.98 to 9.59 ± 0.92 mg GAE/g and 32.02 ± 1.31 to 13.8 ± 0.97 mg CE/g within 60 Min, respectively. Based on experimental results, reaction mechanism explained the roles of phenolic compounds and flavonoids in producing spherical-shaped AuNPs. © 2019 International Union of Biochemistry and Molecular Biology, Inc.