A new spirostanol saponin and two new furostanol saponins were isolated from the fresh bulbs of Allium giganteum together with several known saponins. The structures of the new compounds were determined on the basis of spectroscopic data, the products formed on hydrolysis and by comparing their properties with those of known compounds. The isolated saponins and their derivatives were evaluated for inhibitory activity by examining their action on cAMP phosphodiesterase as a primary screening test to identify new medicinal agents.