A new depsidone, namely chaetosidone A (1), together with six known fungal metabolites were obtained from a culture of Chaetomium sp., an endophytic fungus isolated from Zanthoxylum leprieurii leaves. The structure of the new compound 1 was elucidated using MS and NMR experiments, and by biosynthetic considerations. Chaetosidone A (1) is the missing link in the series of orsellinic acid-derived depsidones. Compound 1, corynesidone B (2) and corynether (3) displayed inhibitory effects on two Gram-positive bacteria, Bacillus subtilis and Staphylococcus aureus, at concentrations of 40 µg per paper disk and moderate toxicity towards brine shrimp larvae (Artemia salina).