<jats:title>Abstract</jats:title><jats:p>A lipophilic antibiotic was isolated from the culture filtrate of <jats:italic>Streptomuces olivaceus</jats:italic> Tü 3010. Its structure was elucidated spectroscopically using 2D‐<jats:sup>1</jats:sup>H‐ and <jats:sup>13</jats:sup>C‐NMR experiments (e. g. COLOC, NOESY), FD‐ and GC‐MS, and by chemical degradation and derivatization. The antibiotic Tü 3010 was identified as (2<jats:italic>S</jats:italic>)‐4‐ethyl‐2,5‐dihydro‐3‐hydroxy‐2‐[(1<jats:italic>E</jats:italic>)‐2‐methyl‐1,3‐butadiyl]‐5‐oxo‐2‐thienylacetamide (<jats:bold>1</jats:bold>), therefore it is a new member of natural compounds with thiotetronic acid structure. The metabolite shows antibacterial activity especially against <jats:italic>Streptomycetes</jats:italic>.