As a part of ongoing phytochemical research on Euonymus alatus leaves and twigs, we have isolated one new reissantane-type triterpene (1), together with eight known triterpenes, isoarborinol (2), friedelin (3), abruslactone A (4), $3{eta},22{alpha}$-dihydroxyolean-12-en-29-oic acid (5), $3{alpha},22{alpha}$-dihydroxyolean-12-en-29-oic acid (6), $3{alpha},22{eta}$-dihydroxyolean-12-en-29-oic acid (7), $22{alpha}$-hydroxy-3-oxoolean-12-en-29-oic acid (8), demethylregelin (9). The structure of 1 has been elucidated as 24,24-dimethyl-reissant-7(8),25-dien-$3{alpha}$-ol, by extensive 1D and 2D spectroscopic methods including $^1H$-NMR, $^{13}C$-NMR, $^1H-^1H$ COSY, HSQC, HMBC and NOESY. Anti-inflammatory activities of the isolated compounds were determined as potential regulating excessive inflammatory responses in RAW264.7 macrophage cells. Particularly, abruslactone A (4) and demethylregelin (9) showed the most potent activity, which effectively reduced the expression of iNOS protein and subsequent nitric oxide production induced by lipopolysaccharide in RAW264.7 cells.