Background: Nutmeg (Myristica fragrans Houtt) has the potential to control blood glucose and lipid levels. However, it contains safrole compounds, which are dangerous when humans consume them. Objective: In this study, we eliminated safrole from nutmeg and investigated its antidiabetic and antidyslipidemic properties. Methods: Nutmeg seeds were powdered, extracted with 90% ethanol, and chromatographed to remove the safrole. Safrole-free nutmeg extract was concentrated, and its antidiabetic and antidyslipidemic agents were tested in a type 2 diabetes mellitus rat model. Results: The results showed that the blood glucose level decreased by 20% after 2 days of treatment, 30% after 4 days of treatment and 40% after 6 days of treatment with nutmeg extracts. The blood triglyceride level did not change in the first 2 days of treatment, and it decreased by 25% after 4 days of treatment and by another 25% after 6 days of treatment. Luciferase assay showed that safrole- free nutmeg increased the activities of PPAR α and γ in a dose-dependent manner, which marked the potential mechanism of lowering the triglyceride and glucose levels. Conclusion: Results thus obtained are suggestive of the potential dual effect of safrole-free nutmeg extract on antidiabetic and antidyslipidemic management.