Abstract: We developed a new species, Paeonia altaica K. M. Dai et T. H. Ying in Altaica, Sinjiang. Based on morphological, light microscopical, scanning electron micros copical and chromatographical examinations and in comparison with Chuan Chishao, P. veitchii Lunch which is clearly distinguished from it, the P. altaica K. M. Dai is proposed as a new species.