Glycyrrhiza uralensis, also known as Chinese liquorice, is a flowering plant native to Asia, which is used in traditional Chinese medicine. Glycyrrhiza uralensis is usually collected in spring and autumn, when it is removed from the rootlet and dried in the sun. Liquorice root is most commonly produced in the Shanxi, Gansu and Xinjiang regions of China. Liquorice root contains glycyrrhizin, which can cause high blood pressure, salt and water retention, and low potassium levels; it could also lead to heart problems. In order to investigate the chemical constituents of the roots of Glycyrrhizauralensis Fisch, the constituents were isolated by using preparative HPLC. The structures of the isolated compounds were identified by spectral evidence. A new oleanane-type triterpenoid saponin (S3) and 11 known compounds were obtained. The new licorice saponin (S3) was identified as 22β-acetoxyl-glycyrrhaldehyde based on MS, UV, IR and NMR spectroscopic data.