Two fusidane-type active compounds (6 and 7) and five new ones (1–5), along with other nine known compounds (8–16) were isolated from the metabolites of Schizophyllum commune MST7-3. Their structures were elucidated on the basis of spectroscopic analysis. The absolute configurations of compounds 2 and 3 were established by Mosher’s method and optical rotation. Compounds 6 and 7 showed significant antibacterial activities against Stenotrophomonas maltophilia with MIC values of 4 μg/mL and 16 μg/mL, respectively.