The detailed chemical analysis of the methanol extract of Meripilus giganteus (Pers.) P. Karst. led to the isolation of two new cerebrosides, mericeramides A ( 1) and B ( 2) together with cerebroside B ( 3), ergosterol ( 4), 3β-hydroxyergosta-7,22-diene ( 5), cerevisterol ( 6), 3β-hydroxyergosta-6,8(14),22-triene ( 7), 3β- O-glucopyranosyl-5,8-epidioxyergosta-6,22-diene ( 8) and (11 E,13 E)-9,10-dihydroxy-11,13-octadecadienoic acid ( 9). The structures of the compounds were determined on the basis of NMR and MS spectroscopic analysis. Mericeramide A ( 1) is the first representative of halogenated natural cerebrosides. The isolated fungal metabolites 1– 9 were evaluated for their antioxidant activity using the oxygen radical absorbance capacity (ORAC) assay. Compounds 2, 5 and 9 proved to possess considerable antioxidant effects, with 2.50 ± 0.29, 4.94 ± 0.37 and 4.27 ± 0.05 mmol TE/g values, respectively. The result obtained gives a notable addition to the chemical and bioactivity profile of M. giganteus, highlighting the possible contribution of this species to a versatile and balanced diet.