Guided by ichthyotoxic activity against goldfish, a new lipopeptide, malyngamide H [1], and its corresponding free acid, 7-methoxytetradec-4(E)-enoic acid [2], have been isolated from the tropical marine cyanobacterium Lyngbya majuscula. The structure of the new carbon skeleton borne by malyngamide H was elucidated on the basis of spectroscopic analysis, mainly 2D nmr. The absolute stereochemistry of the cyclohexenone moiety of malyngamide H [1] was deduced by a combination of 2D NOESY and exciton chirality circular dichroism spectroscopy.