Six alkaloids have been isolated from Lycopodium magellanicum. These include the known alkaloids lycopodine, acetyldihydrolycopodine, lycodine, N-methyllycodine, acetylfawcettine and a new alkaloid, 5-dehydro-magellanine. The chemical correlation of magellanine and paniculatine and the establishment of their absolute configuration are described. © 1979.