New uses of hypoestoxide, its derivatives and related compounds for treatment and prevention of neurodegenerative diseases (e.g. Parkinsons disease, Alzheimers disease, Huntingtons disease) are described. More specifically, the invention relates to methods for treating various neurodegenerative diseases through administration of hypoestoxide, its derivatives and related compounds, or a combination thereof to a subject with a neurodegenerative disease such that the symptoms of the disease are treated or at least partially alleviated. Furthermore, the present invention further provides methods of preventing the development of neurodegenerative diseases in individuals who are predisposed to developing a neurodegenerative disease over time.