Abstract: Taking Taxus media cv. Hicksii cutting seedling as material, we researched the effects of different soil moisture on taxol content and the related physiological indexes of branches and leaves of T. media cv. Hicksii in the greenhouse.The results showed : (1) Taxol content in branches and leaves decreased with soil moisture decreasing. In the treatment with soil moisture of 25.8 %, dry weight of branches and leaves per plant increased by 33.66 %, and taxol yield accordingly increased by 5356 %, comparing with the control with soil moisture of 184 %. Moreover, in the treatment with soil moisture of 129 %, 8.6% and 4.3%, branches and leaves yield decreased by 885 %, 1849 % and 29.58%, while taxol yield decreased by 24.15 %, 51.08 % and 82.97 %, respectively.(2) With soil moisture decreasing, chlorophyll content in branches and leaves decreased, contents of proline and soluble sugar firstly increased and then decreased, while MDA content firstly decreased and then increased.