A new kaurane diterpenoid, 3alpha,18-dihydroxy-3beta,20-epoxykaur-15-ene (1), was isolated from the aerial parts of Excoecaria acerifolia (Euphorbiaceae) together with 16 known compounds. Their structures were identified by extensive spectral analysis, especially 2D NMR techniques. Antiangiogenic effects of compounds 1-6 and 9-17 were evaluated using a zebrafish model, with compound 9 being active in this bioassay. At the same time, compounds 4, 6, 10, 11 showed activity in inhibiting the growth of A549 lung cancer cells, and the compound 10 also showed apoptosis-inducing effects on A549 lung cancer cells.