Four new phenolic glycosides, liparisglycosides D–G (1–4), together with a known compound (5) were isolated from the whole plant of Liparis odorata. Their structures were elucidated through extensive spectroscopic methods, including UV, IR, MS, 1D, and 2D NMR experiments (HSQC, COSY, and HMBC), and in an in vitro bioassay, compounds 1, 3, and 5 showed moderate inhibitory effects on nitric oxide production in LPS-induced microglia cells at 10 µM, yet all compounds were inactive when tested against five human cancer cell lines (IC50 >10 µM).