The methanolic extract and the ethyl acetate-soluble and methanol-eluted fractions from Chinese Moutan Cortex, the roots of Paeonia suffruticosa ANDREWS, were found to exhibit scavenging effect on 1, 1-diphenyl-2-picrylhydrazyl radical and superoxide anion radical generated by the xanthine-xanthine oxidase system. Two monoterpenes called paeonisuffrone and paeonisuffral were isolated from the ethyl acetate-soluble fraction. Their absolute stereostructures were elucidated on the basis of chemical and physiochemical evidence, which included the application of a modified Mosher's method and lipase catalyzed debenzoylation reaction.