From Chloranthus multistachys, three sesquiterpene lactones, multislactone (1), codonolactone(2), lasianthuslactone A(3), and three diterpenes, 12R,15- dihydroxylabda-8(17), 13E- dien-19-oic acid(4), 12(S),15- dihydroxy labda-8(17), 13E-dien- 19-oic acid(5), 12-oxo-15- hydroxylabda-8(17), 13E-dien-19-oic acid(6) were isolated. The structures of the isolated compounds were established by means of NMR and MS analyses. Compound 1~6 were firstly isolated from this plant. Compound 1 is new natural products. Among them , compound 1 and 6 show anti- inflammatory activities.