Elaeagnoside (1), a new steroidal glucoside, has been isolated from the chloroform fraction of Elaeagnus orientalis along with beta-sitosterol and 12-hydroxy-8,10-octadecadienoic acid. The structure of 1 has been elucidated with the help of chemical and spectral studies. It showed significant inhibitory activity against the enzyme chymotrypsin.