The objective of this study was to investigate the apoptosis-inducing effect of an oxidative analogue of gambogic acid (GA) on the human hepatocellular carcinoma cell line HepG2 and explore the related molecular mechanisms. HepG2 cells were treated with the analogue of GA and the growth inhibition was analysed by MTT assay. The morphological changes in cells were observed under an inverted light microscope and a fluorescence microscope. In addition, both the cell-cycle arrest and the apoptosis rate were detected by flow cytometry. Western blot was used to evaluate the alteration of protein expression. The viability of HepG2 cells was markedly inhibited in a concentration-dependent manner and obvious morphological changes were confirmed, including condensed chromatin and reduced volume. Increased percentage of apoptotic cells was displayed and altered expression level of several apoptosis-associated proteins, P53, Bcl-2, Bax and pro-caspase-3, was obtained. The newly synthesized analogue of GA exhibited potential anticancer activity, induced remarkable apoptosis in HepG2 cells, probably through the intrinsic mitochondrial pathway, and promised to be a new candidate for future cancer therapy.