In the present study, in order to investigate the chemical constituents of Physal& alkekengi L. var. franchetii (Mast.) Makino, the isolation of ingredients was performed by repeated chromatography on silica gel, Sephadex LH-20 and preparative HPLC. Their structures were identified based on 1D, 2D NMR, and mass spectral analysis, A total of 14 compounds were obtained, and their structures were identified as physalin P (1), 4,7-didehydroneophysalin B (2), physalin D (3), 5α-hydroxy-25,27-dihydro-7- dehydro-7-deoxyneophysalin A (4), 4,7-didehydrophysalin B (5), ursolic acid (6), wogonin (7), blumenol A (8), nobiletin (9), liquiritigenin (10), schizandrin (11), 5-hydroxymethylfurfural (12), 5-(hydroxymethy1)-2-(dimethoxymethyl)furan (13), 1-O- [3-O-2-methyl-5-(2,3,4-trimethyl)pheny1-2,3-pentanedi]-β-D-xylopyranosyl-(1→6)-β-D-galactopyranoside (14). Among them, compound 14 is a new compound. Compounds 7-11, 13 are isolated from Physalis alkekengi L. var.franchetii (Mast.) Makino for the first time.