A new neolignan (7′E)‐2′,4,8‐trihydroxy‐3‐methoxy‐2,4′‐epoxy‐8,5′‐neolign‐7′‐en‐7‐one (1) was isolated from the whole plants of Penthorum chinense Pursh, along with lupeol (2), betulinic acid (3), glyceryl monopalmitate (4), β‐sitosterol (5), palmitic acid (6), ursolic acid (7), 2β,3β,23‐trihydroxy‐urs‐12‐ene‐28‐oic acid (8), glyceryl monolaurate (9), scopoletin (10), (–)syringaresinol (11), 9,9′‐O‐diferuloyl‐(–)‐secoisolariciresionl (12), pinocembrin (13), apigenin (14), kaempferol (15), luteolin (16), β‐daucosterol (17), quercetin (18), 1‐O‐(β‐D‐glucopyranosyl)‐(2S, 2′R, 3R,4E,8E)‐2‐(2′‐hydroxyhexadecanoylamino)‐4,8‐octdecadiene‐1,3‐diol (19), gallic acid (20), pinocembrin‐7‐O‐β‐D‐glucoside (21), and quercetin‐3‐O‐β‐D‐glucoside (22). The structures of these compounds were elucidated on the basis of chemical and spectral evidence.