Based on the ‘Liaoning No.1’ and ‘Xiangling’ walnut and ‘Fengdan’ peony as test materials，using randomized block design，the effects of interplanting of walnut peony growth and yield and quality were studied，in order to explore the walnut and peony intercropping suitable cultivation mode.The results showed that the interplanting rows of walnut the peony had significant effects on the growth and quality of walnut nuts，could make the young walnut fruit earlier and could improve the yield of paeonol.But the quantity and quality of peony seed came down.Walnut and peony intercropping could significantly improve economic returns.