The composition of lipophilic extractives in the cortex and pith of elephant grass ( Pennisetum purpureum Schumach.) stems was thoroughly studied by gas chromatography-mass spectrometry. The predominant compounds were fatty acids followed by sterols (in free and conjugated forms as esters and glycosides). Other steroid compounds, as steroid hydrocarbons and ketones, were also present. Additionally, important amounts of mono-, di-, and triglycerides were identified. Other aliphatic series such as n-alkanes, n-fatty alcohols, and n-alkyl ferulates, together with tocopherols and a series of high molecular weight esters, were also found, although in minor amounts. The analyses also revealed the presence of a β-diketone (12,14-tritriacontanedione), which was particularly abundant in the cortex. Finally, two lignans, matairesinol and syringaresinol, were also detected. In general terms, the abundances of the different classes of compounds were higher in the pith, except for the series of n-fatty alcohols, n-alkyl ferulates, β-diketones, and lignans, which were more prominent in the cortex.