Four new cembranoids, laevigatols A - D (1-4) and a new sterol, lobophytosterol (11), together with eleven known compounds were isolated from the methanol extract of the soft coral Lobophytwn laevigatum. Their chemical structures were elucidated by extensive spectroscopic analysis and comparison with those reported in literature. The absolute stereochemistry of 1 and 11 was determined using a modified Mosher's method. All isolated compounds were evaluated for cytotoxic, anti-inflammatory, and PPARs transcriptional activities.