Two new iridoid glycosides, algidiside I [2′-(2′′,3′′-dihydroxybenzoyl)loganic acid] (1) and algidiside II [6′-(2′′,3′′-dihydroxybenzoyl)loganic acid] (2), and 14 known iridoids including for the first time from the aerial part of Gentiana algida Pall. 2′-(2′′,3′′-dihydroxybenzoyl)swertiamarin and the 6′-O-β-D-glucosides of loganic acid and swertiamarin were isolated. Compounds 1 and 2 showed pronounced anti-inflammatory activity in the 12-O-tetradecanoylphorbol-acetate-induced inflammation model. HPLC found that the iridoids were distributed organ-specifically in the aerial part of G. algida.