Investigation　of　the　n-butanol　extract　of　Flos　populi　led　to　the　isolation　of　one　new　phenolic　glycoside,　4　＇-hydroxybenzyl-2-hydroxybenzoate-1　＇-O-beta-D-glucopyranoside　(1),　together　with　twelve　known　compounds,　which　have　been　determined　on　the　basis　of　spectroscopic　analysis　including　UV,　IR,　HR-ESI-MS　and　1D/2D　NMR.　The　antioxidant　capacity　of　all　compounds　were　evaluated　by　ABTS　radical-scavenging　test　and　ferric　reducing　antioxidant　power　(FRAP)　assay.　And　during　a　screening　procedure　for　the　anti-inflammatory　activities　among　most　compounds　on　lipopolysaccharide　(LPS)-stimulated　RAW　264.7　macrophage　cells,　compound　13　exhibited　remarkable　inhibitory　effects　on　nitric　oxide　(NO),　tumor　necrosis　factor-alpha　(TNF-alpha),　interleukin　(IL)-6　and　IL-1　beta,　suggesting　that　it　might　be　a　promising　candidate　as　an　anti-inflammatory　agent.