Abstract: Macroporous resin separation, LH20 gel chromatography and high performance liquid chromatography were used to isolate three polyphenols from  the mature yellow fruiting bodies of Inonotus hispidus. The structures of  the compounds were identrfied by nuclear magnetic resonance (NMR), mass spectrometry combined with their physical and chemical properties, and the anti-inflammatory activity and cell toxicity of the compounds were investigated. The results show that the obtained compounds are phellibaumin A (compound [STHZ]1[ST]), phelligridin D (compound 2) and3′,4′-dihydroxy-5-［［11-hydroxyphenyl］-6,7-vinyl］-3,5dioxafluoren5one (compound 3), of which compound 3 is a new compound. 
The three compounds inhibit the NO generation by lipopolysaccharide-induced RAW264.7 cells in a dose-dependent manner. 
The inhibition ratio of each compound on RAW2647 cell proliferation shows a dose-dependent trend. The inhibition ratio is much lower than 50% when the effective dose of anti\|inflammation is 50 μmol/L.

Key words: Inonotus hispidus, anti\, inflammatory activity, separation and purification, structural identification