The organic extract of the old woman octopus Cistopus indicus (Octopodidae), ubiquitous in the Central and South Indo‐Pacific to the tropical Indian Ocean, was chromatographically fractionated over a reverse‐phase adsorbent to yield two oxygenated spiro heterocyclic compounds, named indiculides A and B. Their structures were elucidated by using comprehensive spectroscopic methods. The radical scavenging potential displayed by indiculide A (IC50 ∼1.2 mM) besides attenuating the cyclooxygenase isoforms (COX‐1/COX‐2; IC50 3.36/3.02 μM) showed considerably superior activities when equated to those showed by indiculide B (IC50 3.45/3.22 μM). The inhibition property of indiculide A against 5‐LOX (IC50 2.57 μM) was significantly greater than that of the standard 5‐LOX inhibitor zileuton (IC50 3.70 μM, p<0.05). A greater selectivity index (anti‐COX‐1/anti‐COX‐2, 1.11) was perceived for indiculide A than that demonstrated by indiculide B (1.07) and anti‐inflammatory drug diclofenac (0.96). Structure bio‐activity relation study of indiculide A disclosed proportionality to the electronic properties besides permissible hydrophobicity‐lipophilicity equilibrium, which could result in its efficient interface with the active site of inflammatory enzyme causing promising anti‐inflammatory potential. Larger hydrogen bond networks of indiculide A on account of the more electronic‐rich centers in conjunction with reduced docking factors reinforced its noteworthy attenuation potential against 5‐LOX. The in vitro bioactivity assessment and in silico docking results were further validated by the superior drug‐like characteristics of indiculide A (drug‐likeness score, 0.21) than B analog, and therefore, the former metabolite could be a potential anti‐inflammatory lead.