Disclosed is a novel process for the isolation of bioactive compounds from Terminalia arjuna. More specifically, the invention discloses a process for isolation and enrichment of bioactive compounds Arjunic acid, Arjunolic acid, Arjungenin, Arjunetin, Arjunoglucoside-I, Arjunoglucoside-II, and Catechin from the bark of Terminalia arjuna. The invention also discloses a composition standardized to contain 3% arjunoglucosides isolated from the bark of Terminalia arjuna.