The cytochromes P450 (P450s or CYPs) are essential drug-metabolizing enzymes, and their genetic variants partly account for inter-individual variations in drug oxidation in humans. However, the genetic variants of P450s have not been fully investigated in pigs, a species that is often used in drug metabolism research. In the current study, re-sequencing identified 12, 3, 22, 15, and 14 nonsynonymous variants, respectively, in pig CYP1A2, CYP2A19, CYP2C33, CYP2D25, and CYP3A22. Of these variants, 3, 0, 12, 4, and 1 amino acid substitutions, respectively, were located in substrate recognition sites, which are important domains for P450 enzyme function. Finally, 5, 3, 8, 6, and 6 variants, respectively, were selected and functionally characterized. Ten Göttingen minipigs, five domestic pigs, and one Microminipig were genotyped, and many of these variants were found to be unequally distributed. The drug oxidation activities of recombinant pig CYP1A2, CYP2A19, CYP2C33, CYP2D25, and CYP3A22 were evaluated, and 5, 0, 6, 5, and 6 variants, respectively, showed metabolic activities more than twofold lower or higher than those of the reference wild-type P450 proteins. Moreover, liver microsomes from pigs homozygous for CYP1A2 variant F260L showed impaired caffeine C8-hydroxylation activity compared with the wild-type. These results suggest that P450 genetic variants (especially CYP1A2 F260L) are partly responsible for the variability of metabolic activities in pigs.