Two new compounds, taraxafolide (1) and (+)-taraxafolin-B (2) together with eighteen known compounds, which include one sesquiterpene, thirteen benzenoids, two indole alkaloids, one pyridine derivative and steroid mixtures were isolated and characterized from the fresh roots of Taraxacum formosanum. Structures of new compounds were determined by spectral analysis. (+)-Taraxafolin-B had the bioactive caffeic acid moiety, but its activity was weaker than alpha-tocopherol in DPPH radicals scavenging activity assay.