A new pyrone derivative, 7, 9-dihydroxy-10-methyl-2H, 4aH, 6H, 10bH-pyrano[5,6-c](2)benzopyran-2,6-dione (1), was isolated from a culture broth of a strain of the fungus Cephalosporium sp. AL031, together with three known compounds, 3-acetyl-7-hydroxy-5-methoxyl-3H-isobenzofuran-1-one (2), vermopyrone (3), and 5-methylmellein (4). Their structures were elucidated by spectroscopic analysis including MS and 2D-NMR. Compounds 2, 3, and 4 are reported for the first time from fermentation broth of this fungus through the present study.