Seven new lanostane triterpenoids, astraeusins M–Q (1–5), 26-epi-artabotryol C1 (6), and 26-epi-astrasiaone (7), together with seventeen known compounds (8–24), were isolated from the food mushroom Astraeus asiaticus. The C-26 configuration of artabotriol C1 and astrasiaone, originally reported as 26R (6 and 7, respectively), was revised to be 26S (16 and 17, respectively). Astraeusin M (1) exhibited antimalarial activity against Plasmodium falciparum K1 with an IC50 value of 3.0 μg/mL.