Aster flaccidus bge has been used as traditional medicine in northwestern China. Two new phenylpropanoids (1–2) including one lignan: (7′R, 8S)-9′-lariciresinol-(α-methyl)-butanoate (1), 5,9-dimethoxyl-7-(α-methyl)-butanoxyl-phenyl-2E-propenol-(α-methyl)-butanoate (2) isolated from the chloroform extract of the root of Aster flaccidus bge were identified by means of extensive spectroscopic studies: 1D and 2D NMR spectra as well as HRMS analysis. They have not obvious anti-HIV-1 therapeutic activity (TI=1.0–1.1) compared with AZT (TI=55,556) as the result of the determination of their in vitro anti-HIV-1 activity while compound 2 displays strong antitumor activity against BEL 7402 (human liver carcinoma) with cisplatin as a positive control and the effect increases with the measuring-time going on (24 h, IC 50 : 106.67±8.47 µM — 72 h, IC 50 : 50.51±6.11 µM).