A type I arabinogalactan (CPP) was isolated from the viscous gum exuded by Cereus peruvinus (Cactaceae). It contained arabinose, galactose, galacturonic acid, and rhamnose in a 15:66:6:13 molar ratio and had Mw 9 × 105 g mol−1. Methylation analysis and 13C NMR spectroscopy indicated that CPP is composed of a (1 → 4)-linked β-d-Galp main-chain with substituents of α-l-Araf at O-2, O-3 and O-6, which are in turn substituted at O-2, O-3, and O-2,3. These are probably linked to O-4 of some rhamnosyl units of a type I rhamnogalacturonan (RG1). The main chain is formed by repeating (1 → 4)-α-d-GalpA-(1 → 2)-α-l-Rhap groups. The methylation analysis suggested the presence of (1 → 3)-linked β-Galp structures, perhaps linked to the (1 → 4)-linked β-d-Galp backbone. CPP significantly inhibited ethanol-induced gastric lesions in rats at an ED50 of 49 mg kg−1, indicating that it has a gastroprotective effect. The gastric lesion inhibition by CPP suggests a potential use of this polysaccharide, or the crude plant extract, in phytotherapy.