Water-soluble extracts from Mexican oregano (Lippia graveolens) were incorporated into soy protein isolate (SPI) films. Water vapor permeability, mechanical properties, and antioxidant ability were evaluated. All the extracts were capable of scavenging DPPH radicals in a concentration-dependent fashion; the IC50 values were obtained. Oregano extracts were incorporated into SPI films plasticized with sorbitol, glycerol, and glycerol-sorbitol 1:1. The addition of the extracts resulted in an increase in the water vapor permeability values and provided a dark reddish film appearance. Changes in tensile strength as well as elongation values were observed. The oregano SPI films exhibited antioxidant properties in a concentration-dependent fashion.