Two novel hederagenin type triterpene saponins, namely davisianoside A (1) and davisianoside B (2) together with ten known compounds (3–12) were isolated from the aerial parts of Cephalaria davisiana (Dipsacaceae). One new prosapogenin (1a) was also obtained after the alkaline hydrolysis of compound 1. The chemical structures of all compounds were established mainly by 1D-, 2D-NMR and HR-ESI/MS analysis as well as chemical methods.