Eight new clerodane type diterpenoids, named 7-oxo-kolavelool (1), 7α-hydroxykolavelool (2), 6α,7α-dihydroxykolavenol (3), 12-oxo-hardwickiic acid (4), ptycholide I (5), ptycholide II (6), ptycholide III (7), and ptycholide IV (8) were isolated from the MeOH extract of the bark of a Brazilian medicinal plant, Ptychopetalum olacoides. The structures of 1–8 were elucidated by analyzing spectroscopic data and by comparing their NMR data with those of the previously reported compounds kolavelool (1a), kolavenol (3a), hardwickiic acid (4a), and ptychonolide (5a). Compounds 5 and 6 existed as a 1:1 mixture of inseparable epimers at C-15.