The current phytochemical investigation on Buxus hyrcanaPojark. has resulted in the isolation of the triterpenoid alkaloids 1–10. The structures of five new alkaloids, hyrcanone (1), hyrcanol (2), hyrcatrienine (3), Nb-dimethylcycloxobuxoviricine (4), and hyrcamine (5), were elucidated by means of modern spectroscopic techniques, while the known alkaloids, buxidin (6), buxandrine (7), buxabenzacinine (8), buxippine-K (9) and E-buxenone (10), were identified by comparing their spectral data with those reported earlier. Compounds 1 and 3–9 were found to be acetyl- and butyrylcholinesterase inhibitors. The IC50 values were estimated to be in the range of 83.0–468.0 μM against AChE and 1.12–350.0 μM against BChE. The structure–activity relationship studies suggested that the presence of dimethylamino moieties at C(3) and C(20) is the most important factor influencing the activity of these compounds against the cholinesterase enzymes. All compounds were also evaluated for cytotoxicity on a fibroblast cell line with incubation of 24 h. No cytotoxic effects were exerted by any compound.