A comparative quantitative analysis of the active triterpenoids in Centella asiatica samples collected in different locations in Madagascar was carried out to evaluate the natural variability in triterpenoid content and to select elite samples for further ex situ germplasm conservation and clonal propagation. The highest asiaticoside content (6.42%) was measured in samples collected in Mangoro region. In vitro propagation of C. asiatica was successfully achieved in hormone-free medium. Although lower asiaticoside content was detected in 8-week-old vitro plants, the Mangoro sample still showed the highest content in this triterpenoid constituent (1.78%). Acetoxycentellynol, a C(15)-polyacetylene, was found to be accumulated up to 18 times more in in vitro plants as compared to plant material collected in situ.