A new sesquiterpene, monaspilosuslin, as well as seven known compounds 3beta-hydroxystigmast-5-en-7-one, beta-sitostenone, monascin, ankaflavin, N-trans-feruloyltyramine, vanillic acid and alpha-tocopheryl quinone, were isolated from the n-BuOH-soluble fraction of the 70% ethanolic extract of red yeast rice fermented with the fungus Monascus pilosus BCRC 38072 (Eurotiaceae). The structures of these compounds were determined by analyses of spectroscopic data, mainly 2D nuclear magnetic resonance (NMR) experiments. All of the isolates were also evaluated for their scavenging properties toward the 1,1-diphenyl-2-picrylhydrazyl (DPPH) radical in thin layer chromatography (TLC) autographic and spectroscopic methods.