Objective To optimize the key quality standard for the medicinal material Cortex Moutan Radicis. Methods Thin-layer chromatography (TLC) was used to analyze the medicinal material Cortex Moutan Radicis, and high-performance liquid chromatography (HPLC) was used to establish the specific chromatogram of Cortex Moutan Radicis and measure the content of paeoniflorin and paeonol. Results TLC spots with the same color were observed at the corresponding positions of the TLC chromatogram of Cortex Moutan Radicis and the chromatograms of the reference substance paeonol and the reference herb. The common model of HPLC specific chromatogram was established, 5 common peaks were detected, and the specific chromatogram of Cortex Moutan Radicis was established. Among the 18 batches of the medicinal material, the content of paeoniflorin was 0.90%-1.70%, and the content of paeonol met the requirement for limit in Pharmacopoeia of The Peoples Republic of China (2015 edition). Conclusion This method optimizes the TLC identification method, establishes the specific chromatogram of Cortex Moutan Radicis, and adds the index of content limit, with strong specificity and good repeatability. This method is simple and efficient and can effectively control the quality of Cortex Moutan Radicis.