Three phenolic lignans were isolated from flower buds of Magnolia fargesii. One was a new lignan named (+)-de-O-methylmagnolin and the other two were the newly found lignans from this plant, (+)-phillygenin and (+)-pinoresinol. The structures of these lignans were determined by spectroscopic studies. The structure of (+)-magnolin isolated from this plant was also investigated in detail by spectral data.