Here, we describe the synthesis and evaluation of a class of cell-permeable indeno-oxadiazolopyrazine analogs as the anticancer agents. A new and facile approach to the synthesis of substituted analogs of indeno-oxadiazolopyrazine is illustrated. We find that the designed indeno-oxadiazolopyrazines, 3, 4, 10, 11, 15, and 16, act as potent anticancer agents compared to camptothecin, topoisomerase I inhibitor. These observations suggest that the electrondonating group (methoxy) at the C-5, C-6, and C-8 positions or electronwithdrawing group (fluoro) at the C-6 and C-7 positions on the A ring of indeno-oxadiazolopyrazines is required for antiproliferative activities against MDA-MB-231, BT549, and MCF7 cell lines.