<jats:p>A new polyene pigment, melanocrocin, has been isolated either from fruit bodies or mycelial cultures of the subterranean fungus Melanogaster broomeianus. The structure of the pigment was determined by spectroscopic methods and chemical transformations. Melanocrocin is the N-acyl derivative of ʟ-phenylalanine methyl ester with a polyolefinic carboxylic acid