Three new Lycopodium alkaloids, fargesiines A – C (1 – 3, resp.), along with a known compound (4), were isolated from the whole plants of Phlegmariurus fargesii. Their structures were elucidated on the basis of spectroscopic data and chemical correlations. Compounds 1 – 4 were tested in an assay for acetylcholinesterase (AChE) inhibitory activity.