Five new steroids, including the four new steroidal saponins ypsilandroside B (1), ypsilandroside A (2), isoypsilandroside A (4), and isoypsilandroside B (5), as well as the new steroidal sapogenin isoypsilandrogenin (3), were isolated from the whole plant of Ypsilandra thibetica Franch. Their structures were determined on the basis of spectroscopic analyses, including extensive 2D-NMR techniques. The structure and relative configuration of ypsilandroside B (=(3beta,12alpha,25R)-3-[(alpha-L-rhamnopyranosyl-(1-->2)-beta-D-apiofuranosyl)oxy]spirost-5-ene-12,27-diol; 1) was unequivocally determined by single-crystal X-ray diffraction. The antifungal and antibacterial activities of 1-5 towards various types of fungi and bacteria are reported.