Two new abietane diterpenes, huperphlegmarin A-B (1-2), were isolated from the aerial parts of Huperzia phlegmaria (L.) Rothm. (Lycopodiaceae), in addition to five known compounds including lycoxanthol (3), 21β-hydroxyserrat-14-en-3β-yl acetate (4), 21α-hydroxyserrat-14-en-3β-yl acetate (5),