The relationship between the metabolites of glycyrrhizin (18$eta$-glycyrrhetinic acid-3-O--D-glu-curonopyranosyl-($1{ ightarrow}2$)-$eta$-D-glucuronide, CL) and their biological activities was investigated. By human intestinal microflora, CL was metabolized to 18$eta$-glycyrrhetinic acid (GA) as a main product and to 18$eta$-glycyrrhetinic acid-3-O-$eta$-D-glucuronide (GAMG) as a minor product. The former reaction was catalyzed by Eubacterium L-8 and the latter was by Streptococcus LJ-22. Among GL and its metabolites, GA and GAMG had more potent in vitro anti-platelet aggregation activity than GL. GA also showed the most potent cytotoxicity against tumor cell lines and the potent inhibitory activity on rotavirus infection as well as growth of Helicobacter pylori. GAMG, the minor metabolite of GL, was the sweetest.