The roots of the South American vine Herreria montevidensis Klotzsch ex Griseb. (Herreriaceae) are used in traditional medicine by several Amerindian groups of the Paraguayan Chaco. Little is known on the chemistry of the plant, despite its widespread use across the South American Chaco. From the ethyl acetate/methanol 1:1 extract of the roots, four new and one known homoisoflavanoid, two flavan derivatives, a stilbene, a new alkaloid, and three new and four known spirostane steroids were isolated. The corresponding structures were elucidated by spectroscopic and spectrometric means. The homoisoflavonoids of the plant are related to compounds isolated from the Dracaenaceae (formerly Agavaceae) sources of the Chinese crude drug Dragon's Blood. The new alkaloid is a novel skeleton that can be used as a chemical marker of Herreria. The spirostane steroids suggest chemotaxonomic relations with the Liliales. This is the first comprehensive report on the chemistry of a South American Herreria species.