Three new butenolides aspernolides H–J (1–3) together with seven known ones (4–10) were isolated from the fungus Aspergillus sp. CBS-P-2. Their chemical structures were established on the basis of 1D- and 2D-NMR spectroscopic data, HR-ESI-MS analysis, and their absolute configuration were determined by circular dichroism (CD) analysis. All the compounds were evaluated for the antioxidant effects by DPPH and ABTS methods, the antitumor activities against four human tumor cell lines (HL-60, ASPC1, HCT-116 and PC-3) and antimicrobial activities. Compounds 4–10 showed significant activity against DPPH (IC50 = 15.9–34.3 μM) and compounds 1–10 exhibited significant ABTS free radical scavenging activity (IC50 = 2.8–33.1 μM). Compounds 2, 5 and 11 showed potent cytotoxic activities against HL-60 cell lines with IC50 values of 39.4, 13.2 and 16.3 μM, respectively. Compound 10 showed good antimicrobial activity against Staphylococcus aureus with minimum inhibitory concentration (MIC) of 21.3 μM.