We identified a new compound, 7-hydroxycordylactam, together with the known compound, cordylactam, from cultured Warcupiella spinulosa JCM 2358. Their structures were elucidated using high-resolution mass spectrometry and NMR spectroscopy. The spectra indicated that these compounds have a J-lactam-fused J-pyrone skeleton. Analysis of their antioxidant activities showed that both 7-hydroxycordylactam and cordylactam scavenged 1,1-diphenyl-2-picrylhydrazyl radicals with an IC50 of 340 μM.