Three new oleanane‐type triterpene saponins, named camphanosides A–C (1–3), along with five known compounds, chikusetsusaponin IVa (4), spinasaponin A 28‐O‐glucoside (5), (‐)‐epicatechin (6), (‐)‐epicatechin 3‐O‐gallate (7), and (‐)‐epigallocatechin 3‐O‐gallate (8) were isolated from the leaves Camellia phanii Hakoda & Ninh. Their structures were established by 1D and 2D‐NMR and mass spectral analysis and chemical methods. Moreover, compounds 1–5 were also evaluated for α‐glucosidase inhibitory activity. Compounds 1–3 exhibited moderate α‐glucosidase inhibitory activity with IC50 values of 230.7±18.0, 251.4±22.7, and 421.4±25.6 μM, respectively.