Two novel evoninoate sesquiterpene alkaloids, paniculatine A (4) and paniculatine B (5) with two known, euonymin (2) and wifornine F (3), were isolated from the stem of Celastrus paniculatus. The structures of the new compounds were elucidated by 2D NMR techniques and spectral comparison. The configuration of C-2' and C-3' of 2 and 3 was determined for the first time by spectral comparison.