Goodyschle A (1), a new butenolide, was isolated from the whole grass of Goodyera schlechtendaliana, an orchidaceous edible medicinal plant. The structure of the new compound was elucidated by 1D and 2D NMR experiments in addition to HRESIMS analyses. Compound 1 was evaluated for its bioactivities including cytotoxic activity against human gastric cancer (SGC-7901) and human hepatocellular carcinoma (HepG2) cell lines, inhibitory activity on acetylcholinesterase (AChE) and butyrylcholinesterase (BChE), and DPPH radical scavenging activity. As a result, compound 1 showed potent BChE inhibitory activity (IC 50 value = 6.88 ± 1.63 μM), moderate DPPH radical scavenging activity (IC 50 value = 16.25 ± 0.21 μM), and