Seven compounds were isolated from a rhizospheric soil-derived Streptomyces species of Panax notoginseng by various chromatography methods including MCI,Sephadex LH-20 column chromatography,and semipreparative HPLC.Their structures were elucidated as nortetillapyronpyrone（1）,tetillapyrone（2）,cyclo(L)-4-OH-Pro-(L)-Phe（3）,N1-acetyl-N5,N10-di-p-(EE)- coumaroylspermidine（4）,1H-pyrrole-2-carbothioic acid（5）,futalosine（6）and 1,3,6-trihydroxy-8-n- propylanthraquinone（7）, respectively,based on the analyses of their MS and NMR data.Compound 7 showed a wide range of inhibitory activities against Gibberella zeae, Fusarium oxysporum Schl. f.sp.vasinfectum, Penicillum decumberns, Curvularia lunata (Walk) Boed,Staphyloccocus aureus, Bacillus subtilis and Escherichia coli.