Abstract Two new compounds 1 and 2 , together with the known sterols ergosterol, 5,6‐dehydroergosterol, and ergosterol peroxide, and four polyoxygenated lanostanoid triterpenes named applanoxidic acid A ( 3 ), C ( 4 ), F ( 5 ), and G ( 6 ) were isolated from the fungus Ganoderma australe. The structures of the new compounds were elucidated by means of spectroscopic techniques, while the known triterpenoids 3 – 6 were identified by comparing their spectral data with those reported in the literature. Compounds 1 – 6 inhibited the viability and growth of the HL‐60 cell line.