Two new monoterpenes named sibiscolactons A and B (1 and 2) were isolated from Sibiraea laevigata. New compounds’ absolute configurations were established by electronic circular dichroism (ECD) calculations. Eight known phenylpropanoids (3–10) were also obtained from the title plant. 1–10 were evaluated for their cytotoxic activity. Compound 3 displayed moderate cytotoxicity with IC50 values ranging from 10.8 to 49.2 μg mL−1.