Transplantation experiment was carried out using biennial container seedlings and bare root seedlings of Phoebe zhennan S. Lee as materials. In the experiment, it measured the growth indicators such as the seedling height, basal diameter, and number of branches and leaves. Besides, it also measured net photosynthetic rate (Pn), transpiration rate (Tr), stomatal conductance (Gs), intercellular CO2 concentration (Ci) and soluble sugar, soluble protein, malondialdehyde (MDA) content, superoxide dismutase activity and root activity. The results indicated that the growth indicators of the Phoebe container seedlings performed the best in the plant height, basal diameter, and number of branches and leaves; photosynthetic capacity was the strongest, and the fertilization could enhance the photosynthetic capacity of seedlings; soluble sugar, soluble protein content, superoxide dismutase activity and root activity of Phoebe container seedlings were higher than that of bare root seedlings.