Schisandra propinqua (Wall.) Baill.(Schisandraceae) is widely used as a Chinese folk medicine. In this study, activity-guided fractionation of the ethanol extract from the stem of Schisandra propinqua led to the isolation of four extracts. Subsequently, a neolignan 4,4-di(4-hydroxy-3-methoxyphenly)-2,3-dimethylbutanol was isolated from the EtOAc part of the stem of Schisandra propinqua, the free radical scavenging activities of which were researched in vitro. The present work demonstrated that extracts and pure compound possessed scavenging activities to DPPH, superoxide anions and hydroxy radical, and could depress lipid peroxidation reaction induced by oxygen radical produced by the Fe2+/cysteine system in vitro. This suggests that the traditional application of Schisandra propinqua in China may be related to its antioxidant activities, and the EtOAc part of the stems of Schisandra propinqua can be utilized as an effective source of antioxidants.