A new cinnamate ester drivitive (II) and three flavonoids (I, III, IV) were isolated from Liaoxi propolis. Their chemical structures were established as benzyl caffeate (II), 7-O-methylchrysin (I), genkwanin (III) and rhamnazin (IV) by spectral analysis. II is a new natural compound; I, III and IV were found from the propolis for the first time.