Two new phenolic water-soluble constituents, involcranoside A (1) and involcranoside B (2) have been isolated along with five known phenolic compounds: 3,4-dimethoxyphenyl-O-beta-D-gluco-pyranoside (3), picein (4), and 1,4-dihydroxy-3-methoxy-phenyl-4-O-beta-D-glucopyranoside (5), leonuriside A (6) and 4-hydroxy-3-methoxybenzoic acid (7) from the branch bark of Davidia involucrata. Identification of their structures was achieved by 1D and 2D NMR experiments, including (1)H-(1)H COSY, NOESY, HMQC and HMBC methods and FAB mass spectral data.