To regulate planting and increase yield of Peucedanum praerupterum, the photosynthetic and fluorescence characteristics were studied under different shading, such as full sunlight (CK) and shading 20%, 40%, 60%. The results showed that the maximum electron transfer rate was 247.129 and 266.866 μmol/(m²·s) under CK and shading 20%, with maximum net photosynthetic rate of 25.621 and 28.167 μmol/(m²·s), respectively, which were significantly higher than that of shading 40% and 60% (P<0.05). The saturated light intensity corresponded to the maximum net photosynthetic rate under CK and shading 20% were 2 130.419 and 1 927.804 μmol/(m²·s), respectively, which were significantly higher than those under shading 40% and 60%. The light energy use efficiency and water use efficiency of P. praerupterum leaves had differences among different shading treatments, while the photochemical quenching coefficient and non-photochemical quenching coefficient had no significant difference. Therefore, it was suggested that P. praerupterum was a typical heliophyte with strong adaptability, so that it was beneficial to choose the open field with sufficient light intensity for the cultivation of P. praerupterum.