A novel ester (1) along with a known compound (2) were isolated from the mycelia of Climacodon septentrionalis. A novel furanone (3) and a known compound (4) were purified from the fruiting bodies of the fungus. The respective structures of 1 and 3 were determined as those of (S)-3-p-tolylbutyl 2-hydroxy-2-methylpropanoate and (-)-5-hydroxy-3,4-dimethyl-5-pentylfuran-2(5H)-one by interpreting the spectroscopic data.