In the course of our research for new antifungal agents, two new meroterpenoids, penisimplicin A (1) and B (2), were isolated from Penicillium simplicissimum. The absolute structures of 1 and 2 were established by spectroscopic and chemical investigation. Penisimplicin A (1) and B (2) are rare examples of D-ring seco-meroterpenoids. Since compounds 1 and 2 showed no antifungal activities, the isolation of the compounds with antifungal activity will be attempted.