Protein tyrosine phosphatase 1B (PTP1B) has received much attention due to its pivotal role in type 2 diabetes and obesity as a negative regulator of the insulin signaling pathway. Mangiferin, a xanthone glucoside, has been reported to possess significant antidiabetic activity. In the present study, a series of mangiferin derivatives was synthesized and evaluated for their PTP1B inhibitory activity. Some of the screened compounds displayed good PTP1B inhibitory activity.