In the present study, we aimed to intensively study the chemical constituents, especially organic acids from a medicinal plant Portulaca oleracea L., and screen their anti-inflammatory and quinone reductase (QR, a phase II detoxyfication enzyme) inductive activity. A total of 20 compounds were isolated and identified based on spectroscopic methods, as succinic acid (1), mono-methyl succinate (2), L-malic acid (3), L-1-methyl malate (4), L-4-methyl malate (5), L-dimethyl malate (6), L-6-ethyl citrate (7), L-1-methyl citrate (8), L-1,5-dimethyl citrate (9), 4-hydroxy-5-methylfuran-3-carboxylic acid (10), 5-hydroxymethyl-furoic acid (11), stearic acid (12), L-pyroglutamic acid (13), cyclo-(tyrosine-leucine) (14), L-isoleucine (15), (–)-dehydrovomifoliol (16), (–)-epiloliolide (17), 3,4-dihydroxyphenylethanol (18), succinimide (19), and uracil (20). Among them, 14 compounds (2, 4–8, 10, 11, 13–18) were isolated from P. oleracea for the first time. Compound 18 (12.5 μM) exhibited potent anti-inflammatory effect in lipopolysaccharide (LPS)-induced macrophage cells (RAW264.7) by reducing NO production, and it also increased QR activity in Hepa lclc7 cells. Compound 16 (50 μM) showed weak QR inductive activity. None of other compounds showed anti-inflammatory or QR inductive activities.