Roccellatol, a new (2′R,3′S)-erythrityl-2,6-dihydroxy-4-methylbenzoate was isolated along with nine known compounds from the fruticose lichen, Roccella montagnei Bel. em. D.D. Awasthi. The structure of the new compound was elucidated by detailed spectroscopic analysis (1H, 13C, DEPT and HRMS). The present isolation of roccellatol (10) assumes significance as the esters of p-orcellinic acid are rare in lichens. Interestingly, among the known compounds, (+)-montagnetol (9) was now isolated in very large quantity (4.66%).