Antiproliferative activities of fractions of Hypsizigus marmoreus were examined using HepG2 cells in vitro. The methanol extract of H. marmoreus markedly induced antiproliferative activity, and an active compound from this mushroom was identified as hypsiziprenol A9. Hypsiziprenol A9 inhibited cell proliferation in a time- and concentration-dependent manner by up to 80% on HepG2 cells by inducing arrest of the G1 phase. Further investigation revealed that hypsiziprenol A9 decreased expression of phosphorylated retinoblastoma protein (ppRb), cyclin D1, and cyclin E in a dose-dependent manner. These results suggest that hypsiziprenol A9 can inhibit the growth of HepG2 cells through inducing G1 phase cell cycle arrest due to the inhibition of pRb phosphorylation.