Paleogene mammal localities of North China are particularly well represented in the Erlian Basin, Inner Mongolia. Among them, the locality of Bayan Ulan is most famous for its late Paleocene Gashatan fauna. However, the younger Arshantan fauna of the same site is not well known, since no extensive study has been done so far. Here, we present a small mammal assemblage based on dental and tarsal material from a new Arshantan collection retrieved from the red beds of the late early to early middle Eocene Arshanto Formation at Bayan Ulan. It consists of at least six different taxa: the basal lagomorph Dawsonolagus antiquus, the large pantodont Pantolambdodon sp., the tapiroid Schlosseria magister, and the rhinocerotoids Hyrachyus crista and Rhodopagus guoi nov. sp. The assemblage is dominated by perissodactyls, especially Lophialetidae and Hyracodontidae. For the first time, p4-m1 of Dawsonolagus antiquus, tarsal material from Pantolambdodon sp., and lower dentition and tarsals of Hyrachyus crista are described and illustrated. Unlike other described Arshantan faunas, the Bayan Ulan Arshantan mammal assemblage has been collected exclusively from a single locality, which contributes to the reassessment of the misunderstood Arshantan Asian Land Mammal Age.