Abstract: To provide reference for breeding and seed oil development of Paeonia lactiflora, the seed setting characteristics and seed oil quality of P. lactiflora were analyzed and evaluated, to reveal the correlation between seed setting characteristics and seed oil quality. The results showed that: (1) the length of the carpel and the number of seeds per carpel were highly and positively correlated with yield, the number of follicle was positively correlated with yield, whereas the number of ramet versus yield was significantly and negatively correlated; principal component analysis showed that the first four principal components could explain 88.8768% of the total variance; (2) the oil content of seed was 21.31%, the content of oleic acid, linoleic acid and linolenic acid was 40.56%, 29.16% and 22.11%, respectively, the content of unsaturated fatty acid was 91.83%, the content of vitamin E was 79.64 mg/100 g. Therefore, it is important to pay attention to the number of carpel, the carpel length and the number of follicle in breeding high-yield strain. These results suggest that seed oil of P. lactiflora has better edible oil properties and a good promotion potential as new edible oil.