Two known modified dipeptides, trichodermamide A (1) and aspergillazine A (2), were isolated from an ethyl acetate extract of the metabolite of a marine-derived fungus Spicaria elegans, and were found to have a weak cytotoxic effect on three cancer cell lines P388, A-549, and HL-60 agreed. To our knowledge, this is the first report on the isolation of compounds 1 and 2 from the fungus Spicaria elegans and their cytotoxic effect.