<jats:title>Abstract</jats:title><jats:p>A new phytosphingosine‐type ceramide, suillumide (<jats:bold>1</jats:bold>), was isolated from the EtOH extract of the basidiomycete <jats:italic>Suillus luteus</jats:italic> (L.) S. F. <jats:sc>Gray</jats:sc>, along with ten known compounds: ergosta‐4,6,8(14),22‐tetraen‐3‐one, ergosterol, ergosterol peroxide, suillin, (<jats:italic>E</jats:italic>)‐3,4,5‐trimethoxycinnamic alcohol, 5<jats:italic>α</jats:italic>,6<jats:italic>α</jats:italic>‐epoxyergosta‐8,22‐diene‐3<jats:italic>β</jats:italic>,7<jats:italic>β</jats:italic>‐diol, (<jats:italic>R</jats:italic>)‐1‐palmitoylglycerol, ergosta‐7,9(11),22‐triene‐3<jats:italic>β</jats:italic>,5<jats:italic>α</jats:italic>,6<jats:italic>β</jats:italic>‐triol, cerevisterol, and 4‐hydroxybenzoic acid. The structure of <jats:bold>1</jats:bold> was determined on the basis of spectroscopic and mass‐spectrometric analyses, as well as by chemical methods. Compound <jats:bold>1</jats:bold> and its synthetic diacetyl derivative <jats:bold>2</jats:bold> were tested for their cytotoxic activities against the human melanoma cell line SK‐MEL‐1. Both drugs showed <jats:italic>IC</jats:italic><jats:sub>50</jats:sub> values of <jats:italic>ca.</jats:italic> 10 μ<jats:sc>M</jats:sc> after 72 h of exposure.