During the search for bioactive secondary metabolites, thelepalmatins A and B (1 and 2) were isolated from the fresh fruiting bodies of Thelephra palmata, together with four known compounds (3-6). Their structures were elucidated using MS analyses, and extensive 2D-heteronuclear NMR data interpretation. Compounds 3, 4 and 6 showed antimicrobial activities against Staphylococcus aureus and Bacillus subtilis with MIC values of 21.7-70.4 μM.