Two new ceramides were identified among the chemical constituents of the fungus Phellinus pini. The structures of these compounds, N- (2' -hydroxynonacosanoyl) - D- erythro - 1,3,4- trihydroxy- 2 - amino- octadecane and N-(2'-hydroxytriacontanoyl)-D-erythro-l,3,4-trihydroxy-2-amino-octadecane, were established by spectroscopic and chemical means. In addition, the lignan (+)-pinoresinol and the steroids episterol and ergosterol peroxide have been isolated from the same source.