New fasciculol-type triterpene compounds 1, 2 and 3 were discovered in extracts of the mushroom Hypholoma fasciculare by LC-NMR and LC-MS methods. Isolation and structure elucidation are reported. Fasciculol and fasciculic acid production of H. fasciculare was compared with that of H. sublateritium and H. capnoides. 1 and 2 inhibited moderately 3D-hydroxysteroid dehydrogenase (IC50: 14.0 µM).