Two known retrochalcones, licochalcone A (1) and licochalcone C (2), and one new retrochalcone, licochalcone E (4) were isolated by cytotoxicity-guided fractionation from the roots of Glycyrrhiza inflata along with an ordinary chalcone, isoliquiritigenin (3). The structure of the new retrochalcone was elucidated through a spectroscopic analysis.