A new 2 H -pyran-2-one derivative, 4-hydroxy-6-(3-methoxyphenethyl)-2 H -pyran-2-one ( 1 ), has been isolated from the rhizomes of Alpinia pricei var. pricei , together with six known compounds, dihydro-5,6-dehydrokawain ( 2 ), 5,6-dehydrokawain ( 3 ), 1,7-bis(4-hydroxyphenyl)-1,4,6-heptatrien-3-one ( 4 ), bisdemethoxycurcumin ( 5 ), apigenin ( 6 ), and kaempferol ( 7 ). The structure of new compound 1 was determined through spectroscopic and MS analyses. Among the isolates, 1,7-bis(4-hydroxyphenyl)-1,4,6-heptatrien-3-one ( 4 ), bisdemethoxycurcumin ( 5 ), apigenin ( 6 ), and kaempferol ( 7 ) showed potent inhibition with IC 50 values of 25.47 ± 2.04, 22.39 ± 1.83, 14.60 ± 0.87, and 18.44 ± 1.50 μM, respectively, against LPS-induced NO generation.