A new lathyrane-type diterpene 8alpha,15beta-diacetoxy-7beta-benzoyloxy-3beta-(2-methylpropanoyloxy)-4alphaH,9alphaH, 11alphaH-lathyra-5E,12E-dien-14-one (latazienone) has been isolated from the latex of Euphorbia latazi Kunth. The structure of the new diterpene was determined by a combination of ID- and 2D-NMR techniques.