A novel cyclic tripeptide, sclerotiotide M (1), was isolated from the culture of a marine derived fungus Aspergillus ochraceopetaliformis DSW-2, together with four known compounds (2–5). The planar structure of 1 was established by 1 D and 2 D NMR data, supported by mass spectrometry, and the relative configuration was established by calculated NMR chemical shifts coupled with a statistical method (DP4+). All the compounds (1–5) displayed weak cytotoxic activities against cancer cell lines HPAC and BXPC3, with IC50 values over 20 μM.