A new triterpene, 3beta-19alpha-dihydroxy-30-norurs-12-ene (1), has been isolated from the methanolic extract of Debregeasia salicifolia stems. Its structure has been elucidated with the help of one- and two-dimensional NMR and NOE studies. Lupeol, beta-sitosterol, stigmasterol and oleanolic acid are also reported for the first time from this species.