A new triterpene saponin, ilexoside P (1), along with three known triterpene saponins, ilexoside O (2), ilexsaponin B3 (3) and ilexpublesnin A (4) was isolated from the roots of Ilex pubescens. Their chemical structures were elucidated on the basis of UV, IR, MS, and NMR spectroscopic analyses coupled with chemical degradation. In addition, the xanthine oxidase (XOD) inhibitory activity of the isolated saponins was reported. Compound 1 exhibited weak XOD inhibitory activity in the test.