Chemical investigation of the bark of Calocedrus macrolepis var. formosana, an endemic tree in Taiwan, has led to the isolation of a novel terpenoid 1. Compound 1 with a rare C35 skeleton constructed by a diterpene and a sesquiterpene moieties. Its structure was elucidated by spectroscopic interpretations. The anti-proliferation activity of 1 against human oral epidermoid carcinoma KB cells was evaluated, and the IC50 value was determined to be 9.2 ± 0.4 μM.