The peony or paeony (Paeonia) is the only genus in the flowering plant family Paeoniaceae. They are native to Asia, southern Europe and western North America. They have compound, deeply lobed leaves, and large, often fragrant flowers, ranging from red to white or yellow, in late spring and early summer.

The peony is among the longest-used flowers in ornamental culture and is one of the smallest living creature national emblems in China. Along with the plum blossom, it is a traditional floral symbol of China. It is also known as "flower of riches and honour", and is used symbolically in Chinese art.

The famous ancient Chinese city Luoyang has a reputation as a cultivation centre for the peonies. Throughout Chinese history, peonies in Luoyang are often said to be the finest in the country. Dozens of peony exhibitions and shows are still held there annually.