This study aims to investigate whether the cultivation peony, can take the place of wild herbaceous peony by comparing the biological traits and paeoniflorin content between them. The result showed that the biomass of the stem, leaf, crown, fleshy root and fine root of wild plants were all smaller than that of bud asexual cultivated plants, while there was no significant differences in below-ground and aboveground biomass ratio between these two plants. The stele diameter, the proportion of stele, and the ratio of stele diameter to cortex thickness of wild plants were significantly higher than that of bud asexual cultivated plants, while the cortex thickness and the proportion of cortex were significantly smaller than bud asexual cultivated plants. Although the biological traits of bud asexual cultivated plants have changed significantly, the paeoniflorin content in fleshy roots has no significant difference between wild and bud asexual cultivated plants. Therefore, it is feasible to use the bud asexual cultivation to the conservation and large-scale cultivation of Paeonia laciflora, which is an endangered species.