Abstract A new diterpene, (7 α ,11 β ,14 β ,16 R )‐7,11,14‐trihydroxy‐ ent ‐kaur‐15‐one ( 1 ), and a new sesquiterpene, polyanthuslide ( 2 ), were isolated from the Chinese liverwort Chiloscyphus polyanthus. Their structures were determined on the basis of extensive spectroscopic analyses, and the configuration of 2 was established by X‐ray crystallographic analysis.