Seed oils recovered from agro-industrial by-products represent promising ingredients for the development of functional foods and nutraceuticals. This study comparatively investigated the fatty acid composition and selected biological activities of the lipid fractions obtained from Ribes nigrum and Solanum lycopersicum seeds. Fatty acid profiles were determined by GC–MS analysis. Antioxidant activity was evaluated by ABTS and DPPH assays; neuroprotective-related activities were assessed by inhibition of acetylcholinesterase (AChE), and butyrylcholinesterase (BChE). The two oils exhibited markedly different lipid signatures. Tomato seed oil was dominated by oleic acid (74.56%), whereas blackcurrant seed oil was characterized by high levels of linoleic (46.45%) and α-linolenic acids (21.37%). Despite these compositional differences, several biological activities were comparable between the two oils. Similar AChE inhibitory potency expressed as IC₅₀ was comparable (16.91 and 17.98 µL/mg), while no BChE inhibition was detected under the tested conditions. A comparable antioxidant capacity was also observed in the ABTS assay (17.63 and 17.36 µM TE/g). In contrast, blackcurrant seed oil showed stronger DPPH radical scavenging activity (EC₅₀ = 3.90 vs. 5.12 µL/mL DPPH). Conclusions: Although characterized by different fatty acid compositions, blackcurrant and tomato seed oils exhibited largely comparable functional properties. These findings indicate that differences in the predominance of MUFAs and PUFAs were not consistently associated with differences in the biological activities evaluated in this study, suggesting that minor constituents and interactions among lipid components may also contribute to the overall functional properties of seed oils.