A new ceramide and a new biflavonoid named parinaramide (1) and sparinaritin (2), respectively, have been isolated along with ten known compounds, kaempferol, quercetin, taxifolin, taxifolin-3-O-rhamnoside, lupeol, betulinic acid, ursolic acid, 2α-hydroxy-ursolic acid, 2,3-dihydroxy-1-(4-hydroxy-3,5-dimethoxyphenyl)-1-propanone, and sucrose, from the leaves of Parinari hypochrysea (Chrysobalanaceae). Structures were determined using 1D- and 2D-NMR, MS and by chemical analysis. The methanol extract of leaves, stem bark and roots of P. hypochrysea were screened for their antioxidant and lipoxygenase inhibition potential and found to be inactive.