The entomopathogenic endophytic fungus Beauveria bassiana can colonize plants resulting in growth promotion and protection against phytopathogenic microorganisms. However, physiological changes in potato plants (Solanum tuberosum) during this interaction are poorly understood. In the present work, gas chromatography–mass spectrometry and high-performance liquid chromatography were used to analyze sterol, fatty acid, and phenolic acid concentrations in potato plants inoculated with B. bassiana conidia in soil. We showed an increase in amounts of stigmasterol, minor sterol compounds, and some hydroxy fatty acids in leaves after the fungal treatment. Moreover, levels of hydroxycinnamic acids, especially chlorogenic acid, were elevated in roots following the B. bassiana inoculation. We propose that these changes could have been caused by oxidative reactions, and the alterations may have resulted in growth-stimulatory and protective effects of B. bassiana on the plants.