A novel chromone alcohol, (S)-3,6,7-trihydroxy-2-(1-(4-hydroxyphenyl)ethyl)-4H-chromen-4-one, was isolated from Portulaca oleracea L. This compound was named oleracone P. The structure was identified by spectroscopic methods, including 1D, 2D NMR, CD, and UHPLC-ESI-Q-TOF/MS. It was found that oleracone P showed significant biological activity, inhibiting the production of inflammatory factor IL-1β at 20 μM. [ABSTRACT FROM AUTHOR]