Unbalanced lipid peroxidation damages the human body, and is associated with the formation of tumors, infections, inflammations, autoimmune diseases, and cardiovascular and cerebrovascular diseases. However, food and drugs that contain anti-lipid peroxidation active substances, can help to protect against these negative health impacts. We observed lipid peroxidation inhibition in the metabolites of fermented Monascus anka, in media with Dendrobium nobile Lindl. The anti-lipid peroxidation ability of the extracts was strongest in ethyl acetate, so this was selected for further purifications. A crystal with strong antioxidant properties was obtained by column chromatography. Based on its spectroscopic analysis by Electron Bombardment Ion Source and Mass Spectrometry (EI-MS), ¹H-Nuclear Magnetic Resonance (¹H-NMR), and ¹³C-Nuclear Magnetic Resonance (¹³C-NMR), the isolated crystal was identified as ergosterol. The inhibition rates of the lipid peroxide due to the ergosterol were 57.42%, at 2μg/mL in vitro. Simultaneously, the survival rates of the damaged cells treated with 0.3mmol/L H₂O₂ were significantly improved with the ergosterol, up to 43.88% (200μg/mL) and 46.64% (400μg/mL), compared to 36.47% for the injured cells. The survival rate of the cells was 78.32% (400μg/mL), with ergosterol as a prevention. Cell injury can increase the level of intracellular ROS, but its levels in the damaged cells were reduced after the ergosterol treatments, and the reduction increased with the increasing concentrations. A 400μg/mL concentration resulted in the lowest fluorescence intensity; 33421.11 AU below the normal level. Ergosterol significantly reduced the ROS levels, to reduce the cell damage. Ergosterol from Monascus anka was thus found to have strong anti-lipid peroxidation and antioxidant capabilities, and the ability to protect and repair damaged cells. It may consequently serve as a potential natural antioxidant and will play an important role in human anti-lipid peroxide.