The invention relates to the technical field of flower cultivation, in particular to a method for cultivating peonies for oil. The method comprises the steps that sandy soil is laid in a greenhouse, pH is adjusted, and fertilization and sterilization are carried out; selected peony plants for the oil are planted with row spacing*line spacing of 30cm*50cm; hoeing and topdressing are carried out in the growing period of the peonies for the oil, indoor air ventilation and light transmission are kept, insect killing and sterilization are carried out, chlormequat chloride is sprayed, the flower head of each plant is covered with a plastic bag for 2-3 days, and then a plurality of small holes are pricked in each plastic bag with needles; in the florescence, the plastic bags on the flower heads of the plants are removed, gibberellins and daminozide are sprayed on pistils and stamens respectively, pollinating insects are placed in the greenhouse, temperature, illumination time and ventilation time in the greenhouse are controlled, and meanwhile hand pollination is carried out; fallen leaves are swept away in time, and are burned up or buried deeply in a centralized mode. According to the method, the growing conditions of the peonies for the oil are improved, meanwhile, the pollination success rate in the florescence of the peonies for the oil is increased, and therefore the seed setting rate is improved.