Since the acetylcholinesterase (AChE) inhibitor is used to treat Alzheimer’s disease, the present study aimed to analyze the component with anti-AChE activity from the essential oil of Artemisia iwayomogi (Compositae). The four major components of the essential oil were identified to be camphor (29.8%), borneol (28.0%), eucalyptol (5.81%) and coumarin (5.49%) from a gas chromatography-mass spectrometry (GC-MS). The essential oil and its three components, camphor, borneol, and coumarin, were subjected to anti-AChE assay. The IC50 values of the essential oil and coumarin were shown to be 0.298 ㎎/㎖ and 0.236 ㎎/㎖, though those of other two components, camphor and borneol, were more than 0.250 ㎎/㎖. These results suggest that coumarin is an active substance of this essential oil with anti-AChE activity.