Effects of light spectrum and photoperiod on contents of flavonoid and terpene in leaves of Ginkgo biloba L. were studied based on the field experiments and pot experiments. Light spectrum affected the contents of flavonoid and terpene, the photosynthetic rate, PAL activity, and relative stem growth. Long wavelength such as red light did not favour the accumulation of flavoniod and terpene, but promoted the growth of Ginkgo biloba. Short wavelength increased the accumulation of flavoniod and terpene. However it decreased the growth of Ginkgo biloba. Photoperiod had no significant effects on the content of flavonoid and terpene in leaves of Ginkgo biloba. Short light period did not favour the photosynthetic rate and relative growth, while long light period was favourable. The results from this research provided some bases for the management of Ginkgo biloba plantations.