Twelve antifungal depsipeptide antibiotics named as LI-F03a, LI-F03b, LI-F04a, LI-F04b, LI-F05a, LI-F05b, LI-F06a, LI-F06b, LI-F07a, LI-F07b, LI-F08a and LI-F08b have been isolated from the fermentation broth of Bacillus polymyxa L-1129 by use of extensive preparative HPLC. Not only their intrinsic antifungal and anti-Gram positive bacterial activity, they also showed unique synergistic antifungal effect in combination with the azole group antifungal agents. The structural studies disclosed that they are cyclic depsipeptides composed of six amino acids (three of them, L-threonine, D-allo-threonine and D-alanine being in common among all components and other three amino acids variable) on which is subtituted by a 15 guanidino-3-hydroxypentadecanoic acid.